On Monday, RBC Capital Markets adjusted their outlook on shares of Primo Brands Corp. (NYSE: PRMB), increasing the price target from $35.00 to $38.00, while retaining an Outperform rating on the stock.

The adjustment follows a notable performance by Primo Brands shares throughout 2024, which has sparked a surge of interest from investors seeking to comprehend the company’s success story more thoroughly. Currently trading at $254.88 with a market capitalization of $86.51 million, the company shows promising revenue growth prospects of 20% for FY2024, according to InvestingPro data.

According to the RBC Capital analyst, Primo Brands has attracted attention from a broad spectrum of investors, including those focused on consumer staples,…