Primo Brands resumed with a Buy at Deutsche Bank

Deutsche Bank resumed coverage of Primo Brands (PRMB) with a Buy rating and $33 price target Primo is the market leader in North America retail and home-and-office-delivery water, with a diverse portfolio of brands spanning channels, formats, and price points to meet consumer preferences, the analyst tells investors in a research note. The firm sees “multiple levers” for continued mid-single-digit growth in revenue and EBITDA over the medium term. While the shares have appreciated 18% since the merger closed on November 8, Deutsche sees further upside.