Barclays Downgrades Sally Beauty, Shares Fall

[Stocks-to-Watch]

Despite posting better than expected quarterly financial results, shares of Sally Beauty Holdings (SBH) took a tumble after Barclays Capital downgraded the Thursday morning, citing valuation.

Analyst Meredith Adler cut the shares from Equal Weight too Overweight, which sent the stock falling 4% to $19.62 a share.

The beauty supply chain has been a substantial mover this year, rising almost 40% since the start of the year. In a report published this morning, Adler and expressed confidence that growth will remain healthy through 2013 and raised her 12-month price target to $21 a share from a previous $19.



Original Article Source by Barrons.com