** Shares of out-of-home waxing services provider European Wax Center EWCZ.O down as much as 11.8% to $4.90
** Brokerage Telsey Advisory Group downgrades co to "market perform" from "outperform"; lowers PT to $6 from $8
** Cites disappointing year of results, marked by sluggish guest acquisition, ticket trends, and a lowered FY24 new center opening expectations for second consecutive period in Q3
** Brokerage cautious over co's ability to attract new guests and further expand footprint, them being key growth drivers
** Adds, co's third CEO in a year has clouded visibility to a timeline or strategy for improvement
** Four of nine brokerages rate the stock "buy" or higher, four "hold" and one "sell"; with a median PT of $7.25
** Including session moves, EWCZ stock has fallen ~62% YTD
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
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