Utz Brands price target lowered to $17 from $21 at Barclays

Barclays lowered the firm’s price target on Utz Brands to $17 from $21 and keeps an Overweight rating on the shares. The analyst reduced Q3 and 2023 estimates for Utz to reflect the recent salty snack category “malaise.” The firm has seen weakening consumption data across the salty snack category more recently but continues to view Utz as a “idiosyncratic growth story that has substantial opportunities around both growth and costs to unlock, more so than peers.”