BofA lowered the firm’s price target on European Wax Center (EWCZ) to $6 from $7.50 and keeps a Buy rating on the shares after having hosted Chairman and CEO Chris Morris and CFO Stacie Shirley at the firm’s Consumer Conference in Miami last week. The firm is lowering its FY25 adjusted EBITDA estimate by 12% to $67.9M on the lower outlook while also rolling forward its valuation basis and applying a steeper discount due to reduced visibility.
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Read More on EWCZ:
- European Wax Center’s Earnings Call: Navigating Challenges
- European Wax Center price target lowered to $5 from $6 at Telsey Advisory
- European Wax Center price target lowered to $5 from $7 at Baird
- European Wax Center price target lowered to $4 from $5 at Morgan Stanley
- European Wax Center: Strong Financial Management and Strategic Real Estate Moves Justify Buy Rating Amid Earnings Recovery Potential
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