OneSpaWorld price target lowered to $17 from $21 at Stifel

Stifel lowered the firm’s price target on OneSpaWorld to $17 from $21 and keeps a Buy rating on the shares. The firm’s estimates are “essentially untouched,” but the firm lowered its price target to $17 “just to be more conservative with our target multiple given the uncertain macro backdrop.” However, the firm argues that OneSpaWorld trading down after its third straight beat/raise quarter “makes zero sense!”