Utz Brands price target raised to $20 from $18 at Barclays

Barclays analyst Andrew Lazar raised the firm’s price target on Utz Brands to $20 from $18 and keeps an Overweight rating on the shares. The analyst says Utz is being prudent in its expectation for still somewhat more muted salty snack category growth in 2024. The firm can understand some investor skepticism around the company’s flat year-over-year pricing expectation in 2024 but notes it still sees volume growth building as the year progresses.