Piper Sandler analyst Korinne Wolfmeyer initiated coverage of Sally Beauty with an Overweight rating and $15 price target. With the company’s transformational phase now nearing completion, Sally is positioned well to deliver consistent comp growth and margin expansion over the long term, Wolfmeyer tells investors in a research note. Additionally, with the stock trading at a "hefty discount" to peers and historical levels, the potential upside is "heavily outweighing the downside in our bull/bear analysis," says the analyst. She thinks the current entry point is "compelling."
Published first on TheFly
