RBC Capital Markets analyst Nik Modi initiated coverage of Utz stock with an Outperform rating and $17 price target.
Utz Brands stock has taken a hit this year, but one analyst says now is the time to buy shares of the snack maker.
One reason for Wall Street’s concern is the recent popularity of weight-loss drugs like Mounjaro, Ozempic, and Wegovy, and what that could mean for the snack food industry. Novo Nordisk’s Ozempic and Eli Lilly’s Mounjaro are two diabetes drugs being used by some for weight management. while Novo’s Wegovy has been approved for weight loss.
“We are not in this camp,” Modi said. “We must not forget that these drugs are expensive and out of reach for many Americans seeking to use them for weight loss as a result.” Newsletter Sign-up Modi also recognized that there are other concerns within the snack space as consumers continue to feel the pinch of high grocery prices as inflation runs hot. With prices historically high, shoppers may choose to trade down to store brands or avoid buying snacks altogether.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Big Pharma Stock Trade: Weight Loss Is In, Covid-19 Is OutThe pharmaceuticals sector is enduring a tough year in the stock market. Companies selling weight-loss drugs are a big exception.
Read more »
HGTV’s Erin Napier shows off husband Ben’s insane weight loss with shirtless photoErin Napier is one proud wife. The HGTV star showed off her husband Ben Napier’s massive weight loss with a shirtless photo in honor of his 40th birthday. “Lordy lordy, Big Ben is 40! H…
Read more »
Weight-Loss Surgery May Reduce Blood Cancer RiskWeight-loss surgery can deliver a host of health benefits, but new research reveals an unexpected one: Getting the surgery was associated with a 40% lower risk of blood cancers. Being overweight or obese is a risk factor for several types of cancer, and women with obesity...
Read more »
Healthy meal kits for weight loss and fitness-friendly eatingA good diet is key to staying fit. Simplify your weight-loss journey and eat healthier with one of these meal kits.
Read more »
Weight-Loss Surgery Could Lower Odds for Blood CancersWeight-loss surgery can deliver a host of health benefits, but new research reveals an unexpected one: Getting the surgery was associated with a 40% lower risk of blood cancers.
Read more »