Hims & Hers price target raised to $25 from $23 at BofA

BofA analyst Allen Lutz raised the firm’s price target on Hims & Hers to $25 from $23 and keeps a Buy rating on the shares. Overall, Q3 observed sales growth still points to about 5%-8% upside to Visible Alpha consensus revenue estimates, even after considering the deferral of 10%-20% of GLP-1 sales or $8M-$16M of deferred sales, the analyst tells investors, citing Bloomberg Second Measure credit and debit card data. While cautious on the duration of the compounded GLP-1 opportunity, the firm is “encouraged by strength in core,” the analyst added.