BofA upgraded Oddity (ODD) to Buy from Neutral with a price target of $37, down from $60. The firm thinks the recent pullback in the shares presents “an attractive buying opportunity,” noting that the stock is 16% below its IPO price. With peers like e.l.f. Beauty (ELF), Coty (COTY) and Estee Lauder (EL) trading at an average multiple of 16-times EV/EBITDA, the firm sees room for multiple expansion for Oddity, the analyst added.
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