BMO initiates coverage of Primo Brands with $40 price target, highlighting strong market share.

From Investing.com: 2025-01-06 01:01:42

BMO initiates coverage of Primo Brands with an Outperform rating and $40 price target, highlighting its strong market share in the U.S. water brands sector. The stock closed at $31.07 on Friday, offering nearly 30% upside potential. Primo is expected to experience revenue growth and achieve mid-20% EBITDA margins in the future. Formed through a merger last year, Primo owns popular water brands like Poland Spring and Pure Life. BlueTriton, a former Nestle subsidiary, sold its bottling operations in 2021.



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