Morgan Stanley analyst Simeon Gutman lowered the firm’s price target on European Wax Center to $14 from $15 and keeps an Equal Weight rating on the shares. The firm says its thesis is “relatively unchanged” following Q1 results that included several one-off impacts that “obscure the underlying run-rate of the business,” adding that it views European Wax as “close to turning a corner.” However, the firm stays on the sidelines until there is better visibility on an inflection in top-line trends.
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- European Wax Center price target lowered to $16 from $19 at BofA
- European Wax Center price target lowered to $16 from $19 at Citi
- European Wax Center sees FY24 revenue $225M-$232M, consensus $230.39M
- European Wax Center reports Q1 revenue $51.9M, consensus $51.9M