William Blair analyst Jon Andersen has maintained their bullish stance on PRMB stock, giving a Buy rating on November 4.
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Jon Andersen has given his Buy rating due to a combination of factors that suggest a positive outlook for Primo Brands. Despite recent challenges in their direct delivery business, these are expected to be temporary setbacks. Andersen believes that the company’s diverse range of healthy hydration products and the synergies from recent mergers will drive profitable growth.
Furthermore, the enterprise value is currently positioned at 12 times the estimated EBITDA for 2026, which Andersen finds attractive. This valuation, coupled with the anticipated long-term shareholder returns, supports his confidence in the company’s potential for sustained success and underpins the Buy rating.
In another report released on November 4, RBC Capital also maintained a Buy rating on the stock with a $37.00 price target.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRMB in relation to earlier this year.