Herbalife price target lowered to $13 from $16 at Citi

Citi lowered the firm’s price target on Herbalife (HLF) to $13 from $16 and keeps a Buy rating on the shares. Looking at Similarweb and Sensor Tower data for September, compiled by Citi’s Research Innovation Lab, Herbalife’s trends across web app traffic were mixed, the analyst tells investors in a research note. The firm says that in the U.S., the trend in average unique visitors and total web visits to myherbalife.com remained strong in September with a notable quarter-over-quarter acceleration in Q3. Citi lowered sales estimates and the price target to reflect softer expectations in the China, Asia Pacific, and Latin America, largely driven by weakening macros conditions.