Sally Beauty Holdings (SBH) PT Lowered to $16 at Jefferies

Jefferies lowered its price target on Sally Beauty Holdings (NYSE: SBH) to $16.00 (from $18.00) while maintaining a Hold rating after speaking with vendors. Analyst Stephanie Wissink has heard a number of beauty companies call out professional beauty as weak during this earnings cycle. Sales for SBH to professional stylists account for 70% of total; professional brands account for 100% of total.

REV (Hold) professional beauty segment declined -10% (-12% CC), driven by weakness in CND nail products and American Crew. L'Oréal's (OR FP, Hold) professional segment declined -3.6% (+0.5% CC). While COTY (Hold) reported professional up +1%.

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