D.A. Davidson Names Herbalife a 'Best Idea' for 2013
Shares of Herbalife (NYSE: HLF) are now trading well into negative territory heading into the last hour of Wednesday's trading session. After opening at $33.84 earlier (up 2.7 percent from Monday's close), Herbalife shares are now down nearly 3 percent to around $32.
Traders in the stock are responding to an earlier research note from D.A. Davidson's Timothy Ramey. The analyst called Herbalife a best idea for 2013, citing a possible bid for the company or a potential deal for Herbalife to buy a peer. Ramey believes Herbalife's growth could accelerate this year compared to 2012 given forex which should be less of a drag in 2013.
Ramey said he expects sales out of China to become a "more important" part of Herbalife's revenue model.
D.A. Davidson maintains a Buy rating and $72 price target on shares of Herbalife. The firm's long-term price target remains at $120.
Latest Ratings for HLF
|Aug 2015||Pivotal Research||Maintains||Buy|
|May 2015||Canaccord Genuity||Maintains||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.