European Wax Center price target lowered to $6 from $8 at Truist

Truist lowered the firm’s price target on European Wax Center (EWCZ) to $6 from $8 and keeps a Buy rating on the shares. The company’s Q4 results were in-line with estimates but the shares are down 15% as the number of store closures in 2025 will likely be more than previously expected, the analyst tells investors in a research note. Truist says that while European Wax’s “growth engine has been disrupted,” the shift should drive improved unit profitability and drive franchisee demand. It remains a buyer of the stock with the shares near an “all-time low valuation.”