DA Davidson upgraded Herbalife (HLF) to Buy from Neutral with a price target of $14, up from $7.50. The firm’s meeting with the company CEO has boosted its confidence that Herbalife’s positive constant currency sales growth – up 3% in Q4 – is sustainable, the analyst tells investors in a research note. Stephan Gratziani, who becomes CEO on May 1st, has driven double-digit new distributor growth for three quarters in a row, the firm adds, also noting that Gratziani has a long-term vision, and connects with and has the respect of the top distributors, DA Davidson added.
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Read More on HLF:
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- Herbalife’s Limited Upside and Low Growth Visibility Prompt Sell Rating
- Herbalife Earnings Call: Growth Amidst Market Challenges
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