JMP Securities analyst Andrew Boone initiated coverage of Oddity with an Outperform rating and $66 price target. The company is bringing the beauty market online by creating an “equivalent, if not better,” digital experience for each stage of the beauty buying process, the analyst tells investors in a research note. The firm believes Oddity has a significant opportunity to take share in the $400B-plus beauty industry that remains 78% offline and is dominated by brands with indirect, wholesale relationships with customers.
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