Sally Beauty price target raised to $15 from $14 at Canaccord

Canaccord raised the firm’s price target on Sally Beauty (SBH) to $15 from $14 and keeps a Buy rating on the shares. The firm said they reported Q3 results which were down but beat consensus and also lowered guidance but also beat expectations. Canaccord believes there is more opportunity ahead as management continues to add new store renovations, add more brands, gain distribution in the distributor market, and potentially unleash the new and exciting Happy Beauty Co format to more regions.