Waldencast price target lowered to $2 from $2.40 at TD Cowen

TD Cowen analyst Jonna Kim lowered the firm’s price target on Waldencast (WALD) to $2 from $2.40 and keeps a Hold rating on the shares. The firm noted the company launched an exploration of strategic alternatives and has postponed reporting 1H25. Key 2Q positives are sell-through momentum at Milk in the US and the core business at Obagi sequentially improving.