TD Cowen Downgrades The Beauty Health Company (SKIN) to Market Perform
TD Cowen analyst Oliver Chen downgraded The Beauty Health Company (NASDAQ: SKIN) from Outperform to Market Perform with a price target of $2.50 (from $9.00).
The analyst comments "We move to the sidelines following SKIN's 3Q earnings report as the company manages through issues with clogged HydraFacial Syndeo machines, seeks a new CEO, and manages cash flow on lowered guidance. SKIN suspended 2025 outlook & FY guidance implies -MT% rev. declines in 4Q vs. 3Q’s +10% & 4Q EBITDA of -$4.7mm. We lower our target to $2.50 from $9 based on 1.3x EV/Sales on our new FY25 estimates."
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Shares of The Beauty Health Company closed at $3.90 yesterday.