Hims & Hers price target raised to $21 from $18 at BofA

BofA raised the firm’s price target on Hims & Hers to $21 from $18 and keeps an Underperform rating on the shares. The firm increased Q4 and 2025 revenue and EBITDA estimates, saying feedback suggests there could be upside to Q4 based on alternative credit card data panels. Based on January trends, Hims & Hers’ Q1 guidance is likely to be meaningfully ahead of Street estimates, the analyst tells investors in a research note. BofA believes accelerating GLP-1 contributions suggests the company’s core business is decelerating at a faster pace. GLP-1’s could be more than 50% of sales by Q2 and suggests Hims & Hers and the compounding market is “rapidly gaining share,” but is also creates a larger headwind to growth if weight loss drugs exit the model, BofA adds.