Waldencast price target lowered to $3 from $4 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Waldencast (WALD) to $3 from $4 and keeps an Outperform rating on the shares. The moderated annual outlook comes as a disappointment as solid underlying trends are offset by softening international consumption, out of stocks at its brands, and exiting of non-core distribution points at Obagi, the analyst tells investors.