Beauty Health hits record low after Stifel downgrades to 'hold'

Skinhealth Systems

21/06/2023 14:55

(Updates)
    ** Shares of skin treatment devices maker Beauty Health Co
 SKIN.O  fall as much as 16.4% to record low of $7.27
    ** 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
    ** Stock has fallen near 19% in 2023

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