LifeMD price target raised to $12 from $10 at H.C. Wainwright

H.C. Wainwright analyst Yi Chen raised the firm’s price target on LifeMD to $12 from $10 and keeps a Buy rating on the shares. The company’s 2024 guidance exceeded expectations as its revenue is expected to grow 31%-38%, the analyst tells investors in a research note. The firm says the “robust” growth will be driven by the weight management business, launch of private insurance based programs, and expansion in telehealth products and services under the RexMD brand.