Utz Brands price target lowered to $21 from $24 at Mizuho

Mizuho lowered the firm’s price target on Utz Brands (UTZ) to $21 from $24 and keeps an Outperform rating on the shares. The company’s Q3’s in-line earnings reiteration of fiscal 2024 guidance was encouraging given concerns that aggressive summer 2024 salty snacks category price discounting would yield a larger destabilization on the model, the analyst tells investors in a research note.