Utz Brands price target lowered to $16 from $18 at DA Davidson

DA Davidson lowered the firm’s price target on Utz Brands (UTZ) to $16 from $18 and keeps a Neutral rating on the shares. The firm is updating its model after the company’s Q4 results and notes that its neutral stance reflects a cautious view towards broader snacking, the analyst tells investors in a research note. DA Davidson adds that there’s a favorable risk-reward on the stock if one believes that Food multiples will recover, but the firm is “skeptical”.