Helen of Troy rises after D.A. Davidson upgrades to 'buy'

Helen of Troy

22/12/2022 14:00

** Shares of home and beauty products maker Helen of Troy
Ltd  HELE.O  up 1.4% at $98.58 in premarket trade 
    ** D.A. Davidson upgrades to "buy" from "neutral", while
raising PT to $126 from $115 saying "we think the inflection
point is here"
    ** Brokerage notes data indicates a possible beat when HELE
reports Q3 on Jan. 5, 2023, adding FY 2023 guidance is unlikely
to be further cut
    ** D.A. Davidson says HELE's sales should benefit from the
severity of the cold/flu season
    ** "Flu-driven categories have accelerated to double-digit
point-of-sales growth, retailers are nearing the end of
significant inventory reductions, and cost inflation is
receding" - brokerage
    ** 5 of 7 brokerages rate the stock "buy" or higher, while 2
rate "hold"; median PT is $134 - Refinitiv
    ** As of Wednesday's close, stock down 60.2% YTD
 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth))