Bond.az - Canaccord lowered its price target on Prestige Brands Holdings Inc. (NYSE:PBH) to $72 from $86, maintaining a Buy rating after weaker-than-expected quarterly results. The stock closed at $45.93, down 12.6% over the past week and 47% over the past year.
The company reported Q4 fiscal 2026 sales of $281.6 million, missing implied guidance of about $293 million. The shortfall was driven by weakness in eye care and the Iran conflict.
Prestige Brands announced the acquisition of LaCorium Health, an Australian skincare portfolio, for $150 million in cash. The deal is expected to close in Q2 fiscal 2027.
