Sally Beauty price target raised to $12 from $11 at Piper Sandler

Piper Sandler analyst Korinne Wolfmeyer raised the firm’s price target on Sally Beauty (SBH) to $12 from $11 and keeps an Overweight rating on the shares following its quarterly salon survey to 173 hair stylists. Exploration remains high among stylists, limiting dominance amongst any one brand and creating a tougher environment for share recapture for struggling brands like Olaplex Holdings (OLPX). However, for a retailer like Sally Beauty, Piper sees this as an opportunity to lean into new innovations and benefit from this exploration.