Investors hunting for income ought to look to small-cap stocks for a few high-quality dividend payers, according to Bank of America. At a time when the S & P 500 and the Nasdaq Composite are hitting fresh records and carrying year-to-date gains of roughly 11%, the Russell 2000 pales by comparison. It's up a mere 2.5% in 2024. But don't be thrown off by the small-cap index's underperformance.
"We have increased confidence in UTZ's roadmap to achieving its long-term sales algorithm of 4-5% exiting 4Q24 and into 2025, which we believe could drive upside to both earnings and the multiple," wrote analyst Peter Galbo. He noted that the company's move to expand its geographic distribution in the West, Midwest, Southwest and some parts of the Southeast, position Utz to gain market share. The company is based out of Hanover, Pennsylvania.
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