Honest Company price target raised to $8 from $5.75 at Alliance Global Partners

Alliance Global Partners analyst Aaron Grey raised the firm’s price target on Honest Company (HNST) to $8 from $5.75 and keeps a Buy rating on the shares after the company delivered what the firm identified as its sixth consecutive beat in Q3. Following earnings, the firm continues to believe efforts in higher household penetration and retention, coupled with product innovation, give greater confidence and potential upside to the long-term algorithm that calls for 4%-6% sales growth and margin improvement.