Utz shares surge on upgrade from Goldman Sachs
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Utz Brands (NYSE:UTZ) stock spiked on Friday following an upgrade from Goldman Sachs that cited strong sales dynamics ahead. 

The bank indicated it expects âabove average top and bottom line growthâ due to the companyâs pricing power snack category, solid execution, and openness to acquisitions that could aid further growth. As such, shares were upgraded from âNeutralâ to âBuyâ alongside the assignment of a $16 price target.

âWe see a compelling entry point with the stock now trading at a 36% discount to its peak valuation levels from early-2021 and at a more attractive level relative to other growth-advantage snack/meal-replacement peers,â the upgrade note read.

Goldman cited the Hershey Company (HSY), Mondelez (MDLZ), Simply Good Foods (SMPL), and Bellringer Brands (BRBR) as comparatively less attractive options. 

Shares of Utz Brands (UTZ) accelerated over 5% to the upside following the upgrade.
Read more on why snack-producers are an attractive option in a recession, per Wells Fargo.