Olaplex Inc (OLPX) PT Lowered to $20 at Jefferies
Jefferies analyst Stephanie Wissink lowered the price target on Olaplex Inc (NASDAQ: OLPX) to $20.00 (from $25.00) while maintaining a Buy rating following earnings.
The analyst commented, "Strong 1Q reflects strength in demand, growing distribution, alongside a natural arc in growth rate & margins. Shares proved more volatile throughout the day vs. our expectations, reflecting key questions: 1) FY guide reiterate despite beat; 2) mix-shift to Pro & Retail channels vs. DTC & implications for sales & margins; 3) recent April alt data moderation. We explored these topics in follow-up with mgmt. Trimming PT on market multiple re-rate."