Primo Brands Corporation (NYSE:PRMB) is one of the best falling stocks to buy, according to Wall Street analysts. On November 26, Barclays analyst Lauren Lieberman maintained a Buy rating on Primo Brands Corporation (NYSE:PRMB) with a $24 price target.
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On November 10, the company’s board of directors approved a $50 million increase to the existing stock repurchase program. The $50 million increase brings the total authorization to $300 million. Under the current schedule, the company has already spent $97.7 million and repurchased 4.4 million shares as part of its effort to return value to shareholders.
The decision to buy back shares comes as Wall Street firms remain confident in the company’s prospects. On November 4, RBC equity analyst Nik Modi reiterated a Buy rating on the stock and set a price target of $37. JPMorgan’s Andrea Faria Teixeira also remains optimistic about the company’s prospects, having reiterated a Buy rating and a $23 price target.
Primo Brands Corporation (NYSE:PRMB) is a North American branded beverage company focused on healthy hydration and offering a broad range of products and services, including bottled and sparkling water, as well as other beverages from national and regional brands such as Poland Spring, Arrowhead and Deer Park.
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Disclosure: None. This article was originally published in privileged monkey.