Olaplex price target raised to $2 from $1.40 at Morgan Stanley

Morgan Stanley analyst Dara Mohsenian raised the firm’s price target on Olaplex (OLPX) to $2 from $1.40 and keeps an Equal Weight rating on the shares after the company agreed to be acquired by Heinkel (HENKY) for $1.4B. The firm does not expect a competing bid given the deal potential has been outlined in press reports, which should have drawn out other interest. Olaplex’s turnaround strategy is focused in driving core products, increased marketing, and a stronger innovation pipeline, and Olaplex will add to Henkel’s hair care portfolio, the analyst tells investors in a research note.