Olaplex Holdings price target lowered to $4 from $5 at Piper Sandler

Piper Sandler analyst Korinne Wolfmeyer lowered the firm’s price target on Olaplex Holdings to $4 from $5 and keeps a Neutral rating on the shares. Piper’s quarterly salon survey to 231 Olaplex certified stylists suggests ongoing pressure in the company’s dominant channel, the analyst tells investors in a research note. Increased frustration has arisen from the level of expanded distribution the brand has undergone as of late, with many stylists giving up on competing with the retail behemoths, says the firm. It has "little confidence in upside" to management’s margin targets this year.