TD Cowen analyst Oliver Chen upgraded Sally Beauty (SBH) to Buy from Hold with a price target of $16, up from $14. The firm likes Sally Beauty’s combination of a “modest valuation” with comp consistency. The comps are underpinned by the company’s’ hair color and care category leadership and innovation, marketing and store enhancements, and attractive free cash flow to drive further debt reduction and upside from buybacks, the analyst tells investors in a research note. TD is also positive on Sally’s new customer acquisition, pro customer stability and store modernization efforts.
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Read More on SBH:
- Sally Beauty upgraded to Buy from Hold at TD Cowen
- Sally Beauty price target raised to $14 from $13 at TD Cowen
- Sally Beauty price target raised to $12 from $8 at Morgan Stanley
- Sally Beauty upgraded to Market Perform from Underperform at Raymond James
- Sally Beauty Holdings Reports Positive Q4 Earnings Growth
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
