Piper Sandler Downgrades Beauty Health to Underweight, Lowers Price Target to $2
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Korinne Wolfmeyer downgraded Beauty Health (NASDAQ:SKIN) from Overweight to Underweight and significantly reduced the price target from $12 to $2, indicating a bearish outlook on the company's stock.
November 14, 2023 | 11:15 am
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Beauty Health was downgraded by Piper Sandler from Overweight to Underweight with a price target reduction from $12 to $2, suggesting a negative sentiment towards the stock's future performance.
The downgrade by a prominent analyst from a major financial services firm like Piper Sandler can have a significant negative impact on investor sentiment and the stock price of Beauty Health in the short term. The drastic reduction in the price target from $12 to $2 is a strong bearish signal that may lead to a sell-off in the stock as market participants adjust their expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100