Canaccord Genuity analyst Susan Anderson has maintained their bullish stance on SBH stock, giving a Buy rating on November 25.
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Susan Anderson’s rating is based on Sally Beauty’s strategic initiatives and unique market position. The company’s ‘Sally Ignited’ strategy aims to modernize and refresh the brand, enhancing customer experience through remodeled stores and a curated product selection. This initiative has shown early success, with plans to expand the program significantly in the coming years.
Additionally, Sally Beauty’s investment in digital capabilities, such as the Licensed Colorist on Demand tool, is driving growth and improving customer engagement. The Beauty System Group (BSG) further differentiates Sally Beauty by offering a vast selection of professional products and exceptional customer service. These factors, combined with a solid financial strategy focused on growth and capital allocation, support the Buy rating with a price target of $19.
Anderson covers the Consumer Cyclical sector, focusing on stocks such as Ulta Beauty, Sally Beauty, and Peloton Interactive. According to TipRanks, Anderson has an average return of 16.1% and a 43.41% success rate on recommended stocks.
In another report released on November 25, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $17.50 price target.