BofA analyst Peter Galbo upgraded Utz Brands to Buy from Neutral with a price target of $22, up from $19, after having hosted CEO Howard Freidman and CFO Ajay Kataria at the BofA Consumer Conference earlier this week. Following the meetings, the firm has increased confidence in Utz’s roadmap to achieving its long-term sales algorithm, which BofA believes could drive upside to both earnings and the multiple, the analyst tells investors.
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