Sally Beauty Holdings (SBH) PT Raised to $19 at Canaccord Genuity

Canaccord Genuity analyst Susan Anderson raised the price target on Sally Beauty Holdings (NYSE: SBH) to $19.00 (from $15.00) while maintaining a Buy rating.

The analyst commented: "We recently held in-person meetings with Sally Beauty management, including CEO Denise Paulonis, CFO Marlo Cromier, and VP of Corporate Strategy and IR Jeff Harkins. We discussed industry trends, SBH's strengths, opportunities across the pro and retail businesses, Fuel for Growth strategy, and the company's improving financials. We believe management was upbeat and continues to make progress with their strategic initiatives, leading us to raise our price target from $15 to $19. SBH continues to make progress in executing its three key priorities of 1) enhancing customer centricity, 2) driving innovation and newness, and 3) improving operational efficiency and capabilities. Our meetings last week reinforced our confidence in management's strategies and execution and believe there is still plenty of opportunity to grow the business through newness and innovation, store refreshes, LCOD driving sales, acquiring additional pro distribution, opportunity in distribution to aesteticians, and new store formats (Happy Beauty Co) to help facilitate expansion into new categories. We also believe valuation for SBH remains compelling even after the stock's recent ~50% appreciation since reporting 3Q25 earnings in early August. With SBH trading at ~7x FY27 earnings estimates, we believe there is
opportunity for multiple expansion as other specialty retailers trade at HSD to low-teens multiple valuations, along with +HSD EPS growth."

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