Oddity initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Jason English initiated coverage of Oddity with a Neutral rating and $59 price target. The analyst sees “robust growth potential “ahead for the company as it leverages its digital platform, marketing engine and user database to scale its existing brands while building and launching new brands over time. However, the firm has some concern that Oddity’s already established brands will experience “market share fatigue” in the U.S. in the next year or two, following the common life cycle of new beauty brands.