Canaccord Genuity Raises Sally Beauty (SBH) Price Target After Management Meetings

Sally Beauty Holdings, Inc. (NYSE:SBH) ranks among the best cheap rising stocks to invest in now. On September 15, Canaccord Genuity maintained its Buy rating on Sally Beauty Holdings, Inc. (NYSE:SBH) and increased its price target from $15 to $19. The boost comes after Canaccord analysts held in-person meetings with Sally Beauty’s management team, which includes VP of Corporate Strategy and IR Jeff Harkins, CFO Marlo Cromier, and CEO Denise Paulonis.

According to Canaccord, Sally Beauty Holdings, Inc. (NYSE:SBH) has made strides in achieving its three main goals: increasing client centricity, fostering innovation and novelty, and boosting operational capabilities and efficiency.

The firm also identified several avenues for Sally Beauty’s growth, including new store formats like Happy Beauty Co., opportunities for distribution to aestheticians, and obtaining more professional distribution.

Sally Beauty Holdings, Inc. (NYSE:SBH) is a global specialty retailer that focuses on professional beauty products. It operates in two segments: Beauty Systems Group (BSG) and Sally Beauty Supply.

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