Sally Beauty upgraded to Market Perform from Underperform at Raymond James

Raymond James upgraded Sally Beauty (SBH) to Market Perform from Underperform without a price target The firm says a number of he company’s initiatives to drive more consistent sales growth “look more promising,” while its cost efficiencies should support modest margin expansion over the medium-term. The stock’s valuation is “undemanding” and Sally Beauty’s leverage is now down to two-times, the analyst tells investors in a research note.