Cowen Raises Price Target on Sally Beauty Holdings (SBH) Following Meetings with Management

Cowen reiterated an Outperform rating on Sally Beauty Holdings (NYSE: SBH), and raised the price target to $32.00 (from $30.00), following meetings with management. Management's focus is squarely on attracting the List customer back into their stores. The strategies in place to drive List growth are based on the synchronization of efforts in marketing, store improvements, & assortment updates. Analyst Oliver Chen believes that through modernizing their recruitment pipeline the List customer should eventually be able to drive comps for the Sally div. to +3-4%.

Chen commented, "Internal & External Changes Will Drive Comp Improvement; We're Confident That Mgmt is on Right Track. We reiterate Outperform post Cowen-hosted mgmt mtgs given: new, sophisticated, geo-targeted marketing efforts & elevated product assortment & store layout efforts in place to regain List customers. Cost increases set to be mitigated via selective px increases & sourcing improvements."

For an analyst ratings summary and ratings history on Sally Beauty Holdings click here. For more ratings news on Sally Beauty Holdings click here.

Shares of Sally Beauty Holdings closed at $26.46 yesterday.

You May Also Be Interested In

• JPMorgan Downgrades Tata Technologies (TATATECH:IN) to Underweight
• Citizens Starts MARA Holdings Inc (MARA) at Market Outperform
• Citi Upgrades Collins Foods Ltd. (CKF:AU) (CLLFF) to Buy