Waldencast price target lowered to $10 from $12 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Waldencast to $10 from $12 and keeps an Outperform rating on the shares. The company’s first half of 2023 report was another step of progress towards regular reporting fort he company, with revenues largely in line with expectations and adjusted EBITDA slightly better, the analyst tells investors. The firm sees benefits to the company’s portfolio-approach strategy but believes continued macro uncertainty and challenges to overall business trend visibility.