Canaccord Genuity Upgrades Olaplex Holdings (OLPX) to a Buy With a $2 PT

Olaplex Holdings, Inc. (NASDAQ:OLPX) is one of the best long-term penny stocks to buy right now. In a report released on August 25, Susan Anderson from Canaccord Genuity upgraded Olaplex Holdings, Inc. (NASDAQ:OLPX) to a Buy with a price target of $2.00.

The analyst based the positive rating on the company’s market positioning and growth potential, stating that Olaplex Holdings, Inc. (NASDAQ:OLPX) underwent a brand revitalization and is now in a position to leverage its prestige status in the beauty industry to attain renewed growth.

Anderson added that Olaplex Holdings, Inc. (NASDAQ:OLPX) is experiencing stabilization in both margins and sales after a period marked with fluctuations, and the recent quarters are exhibiting positive growth for the first time in several quarters.

Olaplex Holdings, Inc. (NASDAQ:OLPX) is a technology-driven beauty company focusing on hair health. Its portfolio comprises complementary products specialized to improve hair health.

These products have three uses: protection, maintenance, and treatment. The company’s products are offered through specialty retail, professional, and direct-to-consumer (DTC) channels.

While we acknowledge the potential of OLPX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.