Piper Sandler Downgrades The Beauty Health Company (SKIN) to Underweight, 'Too Messy and Too Uncertain'
Piper Sandler analyst Korinne Wolfmeyer downgraded The Beauty Health Company (NASDAQ: SKIN) from Overweight to Underweight with a price target of $2.00 (from $12.00).
The analyst comments "We're downgrading SKIN to Underweight from Overweight, a double-downgrade we only deem acceptable in extreme circumstances. While we've been fans of this name and do think solid performance could be attainable over the long term, we see too many uncertainties to even be comfortable just remaining on the sidelines right now. Management's messaging has not been clear, today brought an abrupt CEO change, and long-term outlook was suspended. With this lack of visibility and lack of confidence in current messaging, we're lowering our PT to $2 (~15% downside from after-hours levels)."
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Shares of The Beauty Health Company closed at $3.90 yesterday.