D.A. Davidson Reiterates Buy Rating, $72 PT on Herbalife Ltd.
In a report published Friday, D.A. Davidson & Co. reiterated its Buy rating and $72.00 price target on Herbalife Ltd. (NYSE: HLF).
D.A. Davidson noted, “At Herbalife's Analyst Day yesterday in NYC, the company's executives and third party experts presented a detailed response to Pershing Square's numerous accusations. Among the Herbalife speakers were Chairman and CEO Michael Johnson, President Des Walsh, CFO John DeSimone, COO Richard Goudis, and Vasilios Frankos, PhD, SVP of Global Product Science, Safety and Compliance. Additional speakers included Kim Rory from Lieberman Research and Anne Coughlan, PhD professor at Northwestern's Kellogg School of Management. Herbalife's presentation set out to refute many accusations made in Pershing Square's December 20th presentation including: 1) Herbalife is not a product company; 2) Herbalife's products are primarily consumed by its own distributors; 3) Herbalife's business model is not compliant with regulators; 4) ‘Pop and Drop' is governing growth; and 5) Herbalife's financials are deceptive.”
Herbalife Ltd. closed on Thursday at $39.47.
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