Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Olaplex Holdings (OLPX) to $2 from $3 and keeps a Market Perform rating on the shares. The company’s Q3 results were a “mixed bag,” with sales softer than expected, which was offset by tighter expense control and slightly better gross margin leverage leadings to a modest adjusted EBITDA beat, the analyst tells investors. The firm lowered its price target on the stock, given its lower estimates and reduced visibility to improved performance.
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Read More on OLPX:
- Olaplex Announces Q3 2024 Results and Updates Guidance
- Olaplex Holdings reports Q3 adjusted EPS 4c, consensus 4c
- Olaplex Holdings cuts FY24 revenue view to $405M-$415M from $435M-$463M
- Kristi Belhumeur to Leave Olaplex, Company Seeks Successor
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