Oddity price target lowered to $50 from $58 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Oddity to $50 from $58 and keeps a Neutral rating on the shares. The company positively revised guidance and its management also took time to emphasize its technical capabilities and potential product development ahead, the analyst tells investors in a research note, adding that while little color was shared on Brand 3 and Brand 4, the potential capabilities discussed are “encouraging”. The firm notes however that its price target cut reflects lower target multiples given the recent de-rating of Oddity’s beauty peers.