Hims & Hers initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Craig Hettenbach initiated coverage of Hims & Hers with an Overweight rating and $42 price target The firm views Hims & Hers as a “compelling compounding investment” and estimates annual revenue growth of 30% through 2026, “building on very strong growth” of 80% per annum in the last three years. The company has established itself with one of the stronger track records spanning the domains of digital health and direct-to-consumer, the analyst tells investors in a research note. Morgan Stanley believes Hims & Hers has a scalable technology platform.