Nomad Foods price target lowered to $18 from $22 at Barclays

Barclays analyst Andrew Lazar lowered the firm’s price target on Nomad Foods to $18 from $22 and keeps an Overweight rating on the shares. While volumes have been the prevailing narrative in staples for several months now, the risk of GLP-1s as a secular headwind and the cyclical drag of higher rates “have taken center stage in the past week,” the analyst tells investors in a research note. The firm changed the price target in a preview of the sector’s Q3 earnings reports.