As reported earlier, BMO Capital analyst Amit Sharma upgraded Primo Water to Outperform from Market Perform and raised his price target to $17 from $15. The analyst says the recent 20% decline in the stock price was driven by "self-inflicted" and "completely reversible" operational missteps which created an "attractive" entry point for the shares. Sharma anticipates sequential operational improvements to come in Q4 as the "double-digit price increases" get fully rolled out and volume losses from machine downtime are moderated, raising his FY18 EPS view to 36c from 33c and FY19 view to 54c from 46c.