Canaccord lowered the firm’s price target on Waldencast (WALD) to $2 from $4 and keeps a Buy rating on the shares. The firm said they reported their 3Q, 4Q, and FY25 results. Sales of $72M missed the estimate of $76M, with mixed performance by brand. Canaccord believes its brands still resonate well overall and have a lot of growth opportunity. However, due to continued elevated costs related to the SEC investigation and costs related to the strategic review, they lower their target.
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