European Wax Center price target lowered to $15 from $18 at Jefferies

Jefferies lowered the firm’s price target on European Wax Center (EWCZ) to $15 from $18 and keeps a Buy rating on the shares following “mixed” Q4 results. The company’s real estate footprint is “undergoing a cleansing process,” says the firm, which sees value in the company’s size, reach, and capital-light model and anticipates an upcoming trough in the unit base will “help shares move off the bottom.”