Mizuho analyst John Baumgartner initiated coverage of Utz Brands with a Buy rating and $19 price target. The firm believes Utz offers investors favorable exposure to the structural growth of U.S. snacking through a pure-play portfolio in salty snacks, which it highlights as “the variety most preferred by consumers.” The firm sees Utz being poised for market share expansion through highly-synergistic M&A and organic growth, the analyst added.
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