UPDATE: Oppenheimer Upgrades Sally Beauty Holdings (SBH) to Outperform, 'Pullback is Buying Opportunity'
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Sally Beauty (SBH) Gains After Being Upgraded at Both Cowen and Oppenheimer to 'Outperform' as Recent Pullback Creates Attractive Entry Point
June 22, 2021 9:19 AM EDTShares of Sally Beauty Holdings (NYSE: SBH) are up over 6% in todays pre-open trading after both Cowen and Oppenheimer upgraded the stock amid an attractive risk/reward setup.
Although SBH has been trading in a consistent uptrend since November, the stock peaked in May after hitting the highest levels seen since January 2017. Shares corrected over 20% since this peak to return trading below the $20 mark again.
For Oppenheimer analyst Rupesh Parikh, this pullback creates a compelling attractive entry point. Therefore, he upgraded shares to Outperform from Perform with a $24.00 per share price... More
Cowen Upgrades Sally Beauty Holdings (SBH) to Outperform
June 22, 2021 5:59 AM EDTCowen analyst Oliver Chen upgraded Sally Beauty Holdings (NYSE: SBH) from Market Perform to Outperform with a price target of $30.00 (from $28.00).
The analyst comments "We upgrade SBH to Outperform as haircolor, do-it-yourself, and salon chair renting trends will drive prospects for revenue upside;meanwhile, omni-channel... More
