Waldencast price target raised to $7.25 from $6.50 at DA Davidson

DA Davidson raised the firm’s price target on Waldencast to $7.25 from $6.50 and keeps a Buy rating on the shares. The company reported a Q2 sales beat, but missed consensus EBITDA because the Street misjudged the magnitude of the sequential decline in EBITDA given the normal seasonal sequential decline in sales, the analyst tells investors in a research note. Waldencast’s Obagi and Milk posted robust sales growth, which could have been even higher if product availability had kept up with demand, the firm added.