Stock Track | Sally Beauty Plummets 5.59% Intraday After Morgan Stanley Cuts Price Target to $13

Stock Track

05/12

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.

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