European Wax Center price target lowered to $5 from $6 at Truist

Truist lowered the firm’s price target on European Wax Center (EWCZ) to $5 from $6 and keeps a Buy rating on the shares as part of a broader research note on Consumer industry updating the firm’s models to reflect the impact of potential tariffs. Falling consumer confidence will be negative for most of the names under the firm’s coverage, even though the heavy grocery mix and deep value will support discounters while lower interest rates may soften the blow to home improvement, the analyst tells investors in a research note. Auto parts will be “winners” from tariffs given higher same-SKU inflation, little demand destruction and a likely shift to repair/maintenance activity, but Best Buy, Five Below, and Target are most at risk given their high import mixes and heavy discretionary offerings, the firm adds.