Raymond James downgraded Primo Water to Market Perform from Outperform without a price target The firm says clean technology stocks just had their best quarter since 2020. Primo is about to embark on a “potentially choppy” period of post-merger integration and deleveraging, the analyst tells investors in a research note. Raymond James believes combined company will derive half of its sales from single-use bottles, and it will not have Primo’s “enviable” net zero status, so the sustainability aspect of the story will be less pronounced than before.
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