Olaplex Holdings price target lowered to $2 from $3 at Telsey Advisory

Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Olaplex Holdings (OLPX) to $2 from $3 and keeps a Market Perform rating on the shares. The company’s Q3 results were a “mixed bag,” with sales softer than expected, which was offset by tighter expense control and slightly better gross margin leverage leadings to a modest adjusted EBITDA beat, the analyst tells investors. The firm lowered its price target on the stock, given its lower estimates and reduced visibility to improved performance.