Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity research on small cap consumer names.

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

Equity Bottom-Up

Betterware de Mexico Sab de CV / Equity Bottom-Up

<ul><li>We are reiterating our Buy rating, projections and price target after reviewing the Betterware January 2024 catalog.</li><li>Further, management flexed the catalog categories back to 8, from a peak of 10, with the Better Kids and Pets categories now incorporated in other sections, allowing for an easier overall catalog read.</li><li>As such, we believe the Betterware division continues to recover and reiterate our Buy rating and $17 price target for BWMX.</li></ul>

We are reiterating our Buy rating, projections and price target after reviewing the Betterware January 2024 catalog.Further, management flexed the catalog categories back to 8, from a peak of 10, with the Better Kids and Pets categories now incorporated in other sections, allowing for an easier overall catalog read.As such, we believe the Betterware division continues to recover and reiterate our Buy rating and $17 price target for BWMX.

BWMX: Snapping the Catalog: On the Offensive in 2024; Reiterate Buy, $17 PT