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Waldencast price target lowered to $5 from $6 at Canaccord

Canaccord lowered the firm’s price target on Waldencast (WALD) to $5 from $6 and keeps a Buy rating on the shares. The firm said Waldencast reported 1Q sales that were down citing supply chain and comp issues that hindered results. However, they did note brand demand saw an acceleration exiting the quarter.

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