Alliance Global analyst Aaron Grey lowered the firm’s price target on Waldencast (WALD) to $2.50 from $3.50 and keeps a Buy rating on the shares following the Q4 report. The company’s EBITDA missed as it has been investing behind the upcoming Saypha injectables launch, the analyst tells investors in a research note. Alliance believes Waldencast remains in its transition period. It thinks the stock’s valuation undervalues the brand strength of Obagi and Milk as well as upside from Saypha injectables.
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Read More on WALD:
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