PRGO - Personal Care Industry Poised For Growth: Analyst Initiates Coverage On These 3 Stocks | Benzinga

Piper Sandler analyst Korinne Wolfmeyer initiated coverage on several personal care stocks, noting that amid the present economic conditions, consumers are becoming more discerning in their spending.

This positions the personal care category favorably for the near and mid-term, due to its inherent inelasticity and robustness.

In the near term, the analyst says that companies focusing on innovation, looping in scientific and healthcare expertise, and having a healthy and resilient supply chain and distribution network are poised for growth. 

Looking ahead to the long term, it's anticipated that the overall personal care industry will see modest growth in the low single-digit percentage range. This growth is projected to be primarily driven by an increase in volume, accounting for more than 50% of the growth, while the remainder is expected to come from a combination of price adjustments and product mix variations.

At an Overweight rating, the analyst initiated coverage on Perrigo Co PLC (NYSE: PRGO) with Full story available on Benzinga.com