Beauty Health price target lowered to $15 from $17 at Piper Sandler

Piper Sandler analyst Korinne Wolfmeyer lowered the firm’s price target on Beauty Health to $15 from $17 and keeps an Overweight rating on the shares. The analyst sees two potential pressure points that could negatively impact the company’s 2023 and 2024 sales – China and student loan payments starting back up again. The firm lowered forward estimates slightly to account for caution around China and student loans but says all other leading indicators are positive. Piper says investor “patience could be nicely rewarded.”