Canaccord analyst Susan Anderson initiated coverage of Sally Beauty (SBH) with a Buy rating and $14 price target Sally operates two main businesses: an omni-channel retail business, Sally Beauty, offering professional-quality beauty products, and a full-service distributor business that offers professional products exclusively to licensed beauty professionals, the analyst noted. The retail business has a unique beauty offering that primarily focuses on hair, while the distributor business has 50% of the market and is differentiated with an omni-channel presence, says the analyst, who believes Sally is at an inflection point heading into 2025 after comps turned positive in the second half of 2024.
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