Utz Brands price target raised to $16 from $13 at BofA

BofA raised the firm’s price target on Utz Brands to $16 from $13 and keeps a Neutral rating on the shares. Utz’s Investor Day included reiterated FY23 guidance and raised long-term growth algorithm, and the firm’s updated model assumes that organic sales hit the longer-term algorithm in FY25 and cost saving benefits beginning in FY24, the analyst tells investors in a research note.