Cowen Remains Bullish on Sally Beauty Holdings (SBH) Following CFO Resignation

September 29, 2016 1:40 PM EDT
Get Alerts SBH Hot Sheet
Price: $25.88 -0.58%

Rating Summary:
    14 Buy, 8 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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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."

For an analyst ratings summary and ratings history on Sally Beauty Holdings click here. For more ratings news on Sally Beauty Holdings click here.

Shares of Sally Beauty Holdings closed at $28.01 yesterday.

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