OLPX's Forecast Darkens: Analyst Adjusts Estimates Reflecting Struggles In Consumer And Professional Segments
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Dana Telsey downgraded Olaplex Holdings, Inc. (NASDAQ:OLPX) from Outperform to Market Perform, lowering the price target to $4 from $6. This follows disappointing Q2 results and a reduced FY23 outlook due to macro challenges in the consumer and professional segments. OLPX's revised guidance now looks for investments in sales and marketing to support stabilization in trends instead of growth.
August 09, 2023 | 6:51 pm
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Olaplex Holdings, Inc. (NASDAQ:OLPX) has been downgraded by Telsey Advisory Group due to disappointing Q2 results and a reduced FY23 outlook.
The downgrade by Telsey Advisory Group is a direct result of OLPX's disappointing Q2 results and reduced FY23 outlook. This is likely to negatively impact the stock price in the short term.
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