Oddity price target raised by $7 at BofA, here’s why

BofA raised the firm’s price target on Oddity to $44 from $37 and keeps a Buy rating on the shares after the firm hosted CFO Lindsay Drucker Mann for an investor meeting and came away expecting Oddity to once again invest in customer acquisition in Q1 and sees repeats driving the business for the rest of the year. Repeat rates have exceeded expectations this year and over half of FY23 sales will be from returning customers, notes the firm, which sees this demonstrating “brand health and customer loyalty.”