Oddity initiated with an Equal Weight at Barclays

Barclays initiated coverage of Oddity with an Equal Weight rating and $57 price target. Oddity is the largest and fastest growing direct-to-consumer beauty platform “that in many ways has been hiding in plain sight,” the analyst tells investors in a research note. The firm is constructive on the company’s near- and medium-term story, but says the stock’s valuation holds it back.