Primo Brands placed on ‘Positive Catalyst Watch’ at JPMorgan

JPMorgan placed Primo Brands (PRMB) on “Positive Catalyst Watch” while keeping an Overweight rating on the name with a $33 price target The Q4 earnings and analyst day the week following earnings will be the first time Primo is delivering results as a combined entity following the merger of Primo Water and BlueTriton, which closed in November, the analyst tells investors in a research note. The firm thinks these events will serve as share catalysts, saying they will create better visibility to the combined financials and will increase investor confidence in the company’s ability to grow above peers and deliver synergies that will likely be above the initial $200M guidance.