Why Investors Were Hot on European Wax Center Stock Today
One of the most powerful catalysts for any stock is a substantial change in a researcher's price target. That was the dynamic behind the more than 2% gain of European Wax Center (NASDAQ: EWCZ) on Monday, as an analyst tracking the stock significantly upped her fair value assessment. The stock's rise far outpaced the less than 0.1% increase of the S&P 500 index that day. Well before market open, Citigroup's Kelly Crago made the move. She upped her European Wax Center price target to $6 per share, a relatively high figure given that her previous estimation was $4.50. Despite the 33% increase, Crago maintained her neutral recommendation on the stock. Image source: Getty Images.Continue reading
One of the most powerful catalysts for any stock is a substantial change in a researcher's price target. That was the dynamic behind the more than 2% gain of European Wax Center (NASDAQ: EWCZ) on Monday, as an analyst tracking the stock significantly upped her fair value assessment. The stock's rise far outpaced the less than 0.1% increase of the S&P 500 index that day.
Well before market open, Citigroup's Kelly Crago made the move. She upped her European Wax Center price target to $6 per share, a relatively high figure given that her previous estimation was $4.50. Despite the 33% increase, Crago maintained her neutral recommendation on the stock.
Image source: Getty Images.
