Beauty Health price target lowered to $15 from $20 at Cowen

Cowen analyst Oliver Chen lowered the firm’s price target on Beauty Health to $15 from $20 and keeps an Outperform rating on the shares. While contending that the company will likely post Q4 results within its previously provided guidance range, the firm worries that management will likely guide conservatively and that FY23 guidance could fall below expectations, noting that it has lowered its own FY23 estimates.