Cowen Remains Bullish on Sally Beauty Holdings (SBH) Following CFO Resignation
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Cowen reiterated an Outperform rating and $29.00 price target on Sally Beauty Holdings (NYSE: SBH) following the company's CFO, Mark Flaherty's announced resignation. Cowen believes that the stock could be sideways until the company's next catalyst.
Analyst Oliver Chen commented, "SBH shares are trading down -L-MSD as CFO Mark Flaherty announced his resignation to pursue other interests. We expect SBH to continue the same transformation strategy, the finance teams have segment leadership which should enable a solid transition, and new CFO search is likely focused on someone with retail/consumer products skills who is consistent with SBH’s disciplined culture."
Shares of Sally Beauty Holdings closed at $28.01 yesterday.
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