Citi raised the firm’s price target on European Wax Center (EWCZ) to $6 from $4.50 and keeps a Neutral rating on the shares. The company’s Q1 was better than consensus, driven by slightly stronger sales, the analyst tells investors in a research note. The firm expects the shares to remain range-bound until management can prove their strategy will drive improved comp store performance. It sees a balanced risk/reward at current share levels.
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