Stifel analyst Jonathan Block lowered the firm’s price target on Beauty Health to $3 from $8 and keeps a Hold rating on the shares after Q3 results missed estimates “materially,” 2023 guidance was lowered and the long-range plan was pulled. While the stock has “corrected materially” over the past few months and there will be additional post-earnings downside, the firm prefers to take a wait-and-see approach before becoming more constructive, the analyst added.
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Read More on SKIN:
- The BeautyHealth (NASDAQ:SKIN) Tanks on Disappointing Q3 Performance
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- Beauty Health downgraded to Hold from Buy at Canaccord
- Beauty Health downgraded to Underweight from Neutral at JPMorgan
