TD Cowen Downgrades Beauty Health to Market Perform, Lowers Price Target to $2.5
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Oliver Chen downgraded Beauty Health (NASDAQ:SKIN) from Outperform to Market Perform and reduced the price target from $9 to $2.5, indicating a more cautious outlook on the company's stock.
November 14, 2023 | 12:38 pm
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Beauty Health was downgraded by TD Cowen from Outperform to Market Perform, with a significant price target cut from $9 to $2.5, suggesting a bearish view on the stock's future performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest lower future performance expectations. The substantial reduction in the price target from $9 to $2.5 by a reputable analyst firm like TD Cowen could significantly impact investor sentiment and the stock price of Beauty Health.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100