Shares in natural beauty business BWX Ltd (ASX: BWX) hit a record high of $7.50 today despite the group announcing no news to the market.
Recently broker Goldman Sachs was reported to have a bullish $9.10 share price target on the business, although Goldmans has been taking fees from BWX in assisting it with capital raisings and other capital markets advisory work related to BWX's recent US acquisitions.
As such Goldmans' price target should be taken with a pinch of salt, although according to The Wall Street Journal analysts have an average share price target of $7.61 on the shares, with a low estimate of $6.26 versus Goldmans' high estimate of $9.10.
BWX is planning to start selling its range of affordable natural skincare, soap, and shampoo products across large U.S. and European markets. Recent acquisitions in the U.S. may open up new distribution channels to sell its products, while in Australia it has recently started selling its Sukin products on Amazon and in the Coles supermarkets operated by Wesfarmers Ltd (ASX: WES).
