DA Davidson analyst Linda Bolton Weiser upgraded Sally Beauty to Neutral from Underperform with an unchanged $15 price target. The analyst notes that after the 24% decline in its price since the November 7th high, the stock now more accurately reflects the risks as its current enterprise value to expected EBITDA range of 5.3- to 7.1-times has improved its risk-reward profile to down 12% vs. up 47%. Weiser adds that investor expectations have ticked higher after a positive Q4 same-store-sales print, though if the comps come in below 1% in future quarters, it would be viewed as disappointing.