Beauty Health falls as Stifel downgrades to 'hold' on consumer slowdown

Skinhealth Systems

21/06/2023 13:17

** Shares of skin treatment devices maker Beauty Health Co
 SKIN.O  down ~10% at $7.84 premarket
    ** Brokerage Stifel downgrades co to "hold" from "buy"
rating, saying sales growth in HydraFacial's booster attachment
product may soon see a slowdown
    ** HydraFacial's booster attachment are additional serum 
used after standard skin treatment    
    ** Also cuts price target on SKIN to $10 from $17
    ** Says if the booster attachment rate weakens, it would add
more pressure on HydraFacial treatment to boost SKIN's sales
    ** Seven of 11 brokerages rate the stock "buy" or higher and
four "hold"; their median PT is $15 - Refinitiv
    ** Up to Tuesday's close, stock had fallen 4.4% in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))