Primo Brands price target lowered to $24 from $28 at Mizuho

Mizuho lowered the firm’s price target on Primo Brands (PRMB) to $24 from $28 and keeps an Outperform rating on the shares. The firm adjusted targets in the food producers space as part of its 2026 outlook. Healthy living growth should outperform in 2026, but concerns for competition have compressed valuations, the analyst tells investors in a research note. Mizuho believes weak fundamentals and elevated macro uncertainty “suggest limited prospects for a broad valuation recovery.”