Jefferies Increases Price Target on Primo Brands (PRMB)

is among the 10 most undervalued stocks to buy and hold for 10 years. On February 27, Jefferies raised its price target on Primo Brands Corp. (NYSE:PRMB) to $24 from $20 while maintaining a Hold rating. This price rating change followed Primo Brands Corp. (NYSE:PRMB)’s fourth quarter report on February 26, in which the company reported a 2.5% decline in net sales to $1.554 billion, as well as a significant increase in premium brand sales and adjusted EBITDA, driven by a strategic focus on premium brands and operational improvements. The firm noted that the company’s fourth-quarter results exceeded expectations, even as its Direct Delivery segment declined 5.3% during the quarter.

In its note, Jefferies projected that Primo Brands Corp. (NYSE:PRMB) will face challenges during the first half of 2026, including a difficult comparison period, customer losses cycling through, and additional reinvestment. Meanwhile, during the second half of 2026, Primo Brands Corp. (NYSE:PRMB) will likely benefit from net additions anticipated to return to growth in the second quarter and new capacity coming online.

Primo Brands Corp. (NYSE:PRMB) is a branded beverage company with products distributed in the U.S. and Canada. The company also provides water filtration units for home and business consumers across North America.