Jefferies upgrades Primo Brands rating

2026-03-31 12:01:47

Jefferies upgrades Primo Brands rating and says the company owns the influencer bottled water brand Saratoga Springs, Primo Brands; as it continues to increase retail promotion efforts, the stock price could rise further.

The investment firm upgraded its stock rating for Primo Brands from “Hold” to “Buy.” At the same time, it raised its target price from $24 to $25, implying roughly 40% upside potential.

Analyst Kaumil Gajrawala said in a report to clients on Friday: “Primo Brands combines value, growth, and visibility—this kind of combination is extremely rare. After entering 2026 with an even more solid base, its growth story has shifted from ‘stabilizing’ to ‘optimizing,’ making opportunities in the retail sector especially prominent.”

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