Morgan Stanley lowered the firm’s price target on Primo Brands (PRMB) to $26 from $28 and keeps an Overweight rating on the shares. The firm reduced the company’s fiscal 2026 estimates below consensus, saying improvement in its direct delivery business will be weighted to the back half of the year. The analyst expects Primo to remain a “show-me” story but sees an attractive risk/reward for “patient investors.”
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