Stock Track | Sally Beauty Plummets 5.59% Intraday After Morgan Stanley Cuts Price Target to $13
Stock Track
May 12
Sally Beauty's stock fell sharply by 5.59% during intraday trading on Tuesday, following negative analyst action from a major investment bank.
The decline comes after Morgan Stanley analyst Simeon Gutman lowered the firm's price target on Sally Beauty to $13 from $16 while maintaining an Underweight rating on the stock. This significant reduction in the price target represents a bearish outlook from the analyst.
While some analysts maintain an overweight rating on Sally Beauty with an average price target of $16.40, the Morgan Stanley downgrade appears to have weighed heavily on investor sentiment during Tuesday's trading session.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.