Morgan Stanley has upgraded European Wax Center (NASDAQ:EWCZ) to Equalweight from Underweight and increased its price target to $5.80, following the announcement of its acquisition by General Atlantic for approximately $330 million. The all-cash transaction values the company at about $643 million enterprise value, with General Atlantic acquiring the remaining 58% of common stock for $5.80 per share, a 45% premium. This move comes after EWCZ’s significant stock returns and strong financial position.
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Morgan Stanley upgrades European Wax Center stock rating to Equalweight By Investing.com
Morgan Stanley has upgraded European Wax Center (NASDAQ:EWCZ) to Equalweight from Underweight and increased its price target to $5.80, following the announcement of its acquisition by General Atlantic for approximately $330 million. The all-cash transaction values the company at about $643 million enterprise value, with General Atlantic acquiring the remaining 58% of common stock for $5.80 per share, a 45% premium. This move comes after EWCZ’s significant stock returns and strong financial position.