Primo Brands price target raised to $40 from $38 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Primo Brands (PRMB) to $40 from $38 and keeps a Buy rating on the shares after the investor day. The firm says the company laid out its strategic vision for long-term profitable growth in the water category, anchored by a diverse brand portfolio, a “robust” omni-channel distribution network, operational efficiencies through vertical integration, and a commitment to sustainability.