Waldencast (WALD) Stock: Why It Increased Over 1.2% Today

By Amit Chowdhry ● Sep 9, 2022
  • The stock price of Waldencast (WALD) increased by over 1.2% pre-market today. This is why.

The stock price of Waldencast (WALD) increased by over 1.2% pre-market today. 

Price target: $12

Rating: Buy

Analyst: DA Davidson analyst Linda Bolton Weiser

Weiser adjusted the rating after noting that the SPAC’s combination partner Obagi is considered a leader in professional skincare while Milk is a cult favorite makeup brand among Gen Z. And Weiser pointed out that Waldencast can be one of the most exciting growth stories in beauty with 2022-2023 projected organic sales and EBITDA CAGRs of +18% and +39% respectively.