Herbalife price target lowered to $12 from $17 at B. Riley

B. Riley lowered the firm’s price target on Herbalife (HLF) to $12 from $17 and keeps a Buy rating on the shares. Herbalife’s revenue decline continued post-Q4 inflection and Q1 growth, in line with consensus estimates, while AEBITDA exceeded estimates, reflecting opex reductions, the analyst tells investors in a research note. The company appears to have inflected distributor recruitment and continues to reduce expenses, recent trends also suggest that ongoing sales volume headwinds may require a longer path to sustainable revenue growth, B. Riley contends.