Truist analyst Bill Chappell lowered the firm’s price target on Utz Brands to $13 from $18 and keeps a Hold rating on the shares. The company’s Q3 results were “mixed” and the management also lowered its 2023 sales guidance to 2% to 3% due to the company’s supply chain optimization efforts, Salty Snack category normalization, and channel shifting on the part of consumers, the analyst tells investors in a research note.
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Read More on UTZ:
- Utz Brands price target lowered to $17 from $19 at Goldman Sachs
- Utz Brands cuts FY23 revenue growth view to 2%-3% from 3%-5%, consensus $1.46B
- Utz Brands reports Q3 adjusted EPS 17c, consensus c
- Utz Brands initiated with a Buy at Jefferies
- Utz Brands upgraded to Overweight from Equal Weight at Stephens