RBC Capital analyst Nik Modi lowered the firm’s price target on Primo Brands (PRMB) to $30 from $37 but keeps an Outperform rating on the shares after its Q3 results. The company successfully cleared delivery disruptions as expected, but a miscalculation in the pace of volume recovery will weigh on numbers and valuation, the analyst tells investors in a research note. RBC notes hovever that the bigger news in is the appointment of Eric Foss as CEO/Chairman as he is known to be one of the best operators in the beverage industry.
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