RBC Capital analyst Nik Modi raised the firm’s price target on Primo Brands (PRMB) to $29 from $26 and keeps an Outperform rating on the shares. The company reported solid upside to estimates in Q4 driven by less severe declines in the delivery business, the analyst tells investors in a research note. The result is a step in the right direction that increases the firm’s confidence in Primo Brands’ recovery, RBC adds.
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