Hims & Hers price target raised to $39 from $24 at Truist

Truist analyst Jailendra Singh raised the firm’s price target on Hims & Hers to $39 from $24 and keeps a Hold rating on the shares after the firm’s post-earnings call with the management. Hims is satisfied with how the non-GLP-1 business grew, but the company attributes the relative growth slowdown in the core business in Q4 to shift marketing strategy focus on weight loss, the analyst tells investors in a research note. Truist adds that with a non-GLP-1 weight loss solution or a generic GLP-1 solution, Hims believes it can serve a large part of the market, the firm adds.