Olaplex Holdings upgraded to Neutral from Underweight at Piper Sandler

Piper Sandler upgraded Olaplex Holdings to Neutral from Underweight with a price target of $2, up from $1.25. The firm says it has now seen several surveys in a row showing stabilization of preference and penetration in salons, giving it comfort that the bear thesis on Olaplex “may be done playing out.” Additionally, estimates continue to trek lower over the past several quarters, creating more limited downside and a more balanced risk/reward, the analyst tells investors in a research note.