TD Cowen analyst Jonna Kim maintained a Hold rating on Olaplex Holdings today and set a price target of $1.25.
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Jonna Kim’s rating is based on several factors that reflect both the progress and challenges faced by Olaplex Holdings. The company has shown a positive trajectory with a notable increase in sales and EBITDA, attributed to enhanced marketing strategies and international business restructuring. However, despite these improvements, the company is still in the midst of a turnaround, with sell-through rates, particularly in the US, needing further enhancement.
Additionally, while Olaplex’s brand transformation efforts are beginning to yield results, with improved brand perception and Net Promoter scores, there are still uncertainties. These include potential headwinds from shipment timing shifts, an uncertain macroeconomic environment, and industry destocking. These factors contribute to the decision to maintain a Hold rating, acknowledging the progress while remaining cautious about the challenges ahead.
In another report released today, Telsey Advisory also maintained a Hold rating on the stock with a $2.00 price target.