Utz Brands upgraded to Overweight from Equal Weight at Stephens

Stephens upgraded Utz Brands to Overweight from Equal Weight with a price target of $16, down from $18. Though recently there have been recent negative headlines around snacking driven by adoption of GLP-1 weight loss drugs, the firm believes that the “end of snacking” narrative is overdone, the analyst tells investors. The firm, which notes that the vast majority of snacking categories continue to perform better than the total store and believes these categories will show resiliency, sees the recent pull back in Utz shares creating an attractive entry point for investors.