Crunch Time For Utz: Analyst Predicts Flavorful Growth And Cost Efficiency
Portfolio Pulse from Lekha Gupta
Mizuho Securities analyst John J. Baumgartner initiated coverage on Utz Brands Inc (NYSE:UTZ) with a Buy rating and a price target of $19. Baumgartner is optimistic about UTZ's market share growth through M&A and organic growth. He expects the salty snack market to grow by +3% and believes UTZ will maintain its market share in core markets. The analyst also projects cost savings from network optimization and automation, supporting guidance for EBITDA margin expansion. UTZ shares were trading lower by 1.35% at $15.37.
December 20, 2023 | 8:02 pm
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Mizuho Securities analyst John J. Baumgartner initiated coverage on Utz Brands Inc with a Buy rating and a $19 price target, citing potential for market share growth and cost efficiencies.
The initiation of coverage by an analyst with a Buy rating and a higher price target than the current trading price generally indicates a positive outlook for the stock, suggesting potential for short-term price appreciation. The specific mention of market share expansion and cost efficiencies further supports the positive sentiment. However, the current trading price being lower suggests some market skepticism or broader market conditions affecting the stock, which tempers the confidence score slightly.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100