Olaplex Holdings price target lowered to $2 from $4 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Olaplex Holdings to $2 from $4 and keeps a Market Perform rating on the shares. The company delivered better-than-expected results “across the board,” which was an encouraging sign int he midst of a leadership transition, the analyst tells investors. However, the lower baseline demand the brand is currently seeing is a concern and, while new leadership can be a positive for the company, significant changes will take time, making visibility of growth and profitability challenging, the firm says.