Morgan Stanley analyst Eric Serotta lowered the firm’s price target on Primo Brands (PRMB) to $26 from $28 and keeps an Overweight rating on the shares. The firm is lowering its FY26-27 estimates by about 3% to reflect expectations for a second half of 2026 weighted improvement in Primo’s direct delivery business, calling it a “show-me” story, but with “an attractive risk/reward for patient investors.”
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