Utz Brands price target lowered to $16 from $17 at Barclays

Barclays lowered the firm’s price target on Utz Brands to $16 from $17 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.