- Stephens analyst Ben Bienvenu downgraded Utz Brands Inc (NYSE:UTZ) to Equal Weight from Overweight with a price target of $18, down from $23, implying a 9.4% upside.
- Bienvenu notes that the company appears to set up to deliver lower than consensus EBITDA numbers in Q4 as margins pressures continue to linger.
- The analyst believes higher levels of inflation will persist into FY22, which will further pressure margins in the new year for Utz.
- Given the operating environment, Bienvenu thinks Utz shares look “increasingly more fairly valued.”
- Price Action: UTZ shares are trading lower by 3.06% at $16.48 on the last check Wednesday.
RH To Rally Over 15%? Here Are 10 Other Analyst Forecasts For Monday
Citigroup boosted the price target for RH (NYSE: RH) from $305 to $380. Citigroup analyst Steven Zaccone maintained a Buy rating. Hershey shares fell 4% to $330.00 in pre-market trading.
