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StocksMedium•27 March 2026•

1 min read

Jefferies Upgrades Primo Brands to Buy, Citing Strong Earnings Growth Potential

Key Facts

1Jefferies upgraded Primo Brands (PRMB) to Buy from Hold and assigned a $25 price target.

2Shares rose more than 2% in pre-market trading following the upgrade.

3Jefferies believes the current valuation does not reflect the company's potential for a 10% compound annual earnings growth rate over three years.

Jefferies has upgraded its rating on Primo Brands Corp. (PRMB) from Hold to Buy, setting a price target of $25 per share. The upgrade follows the firm's assessment that the company is successfully transitioning from business stabilization to operational optimization. Analysts at Jefferies noted that the current valuation fails to reflect the company's potential for a 10% compound annual earnings growth rate over the next three years. Furthermore, the report suggests that the company's 2026 financial guidance appears conservative given its strong earnings visibility. Market reaction was immediate, with PRMB shares climbing more than 2% during pre-market trading sessions. The stock is currently trading at approximately 10x projected 2028 earnings, which Jefferies considers a compelling entry point for investors.

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