Morgan Stanley analyst Simeon Gutman upgraded European Wax Center (EWCZ) to Equal Weight from Underweight with a price target of $5.80, up from $3.75, after the company announced it has entered into a definitive agreement to be acquired by General Atlantic. A private ownership structure could offer European Wax Center increased flexibility to prioritize operational execution and reinvestment to help reinvigorate the business, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EWCZ:
- Midday Fly By: Coca-Cola reports Q4 beat, BP suspends buyback
- European Wax Center downgraded to Hold from Buy at Truist
- European Wax Center to Be Taken Private by General Atlantic
- European Wax Center to be taken private by General Atlantic for $5.80 per share
- European Wax Center price target lowered to $3.75 from $4 at Morgan Stanley