Utz Brands price target lowered to $17 from $22 at Piper Sandler

Piper Sandler analyst Michael Lavery lowered the firm’s price target on Utz Brands to $17 from $22 to better align with peer comps relative to growth and profitability metrics, while keeping an Overweight rating on the shares. The firm believes Utz is well-positioned to achieve its growth targets in 2023, driven by its topline momentum and productivity initiatives. Piper expects sustainable distribution momentum to continue, both geographically and by channel.