Market Overview

D.A. Davidson Reiterates Buy Rating on Herbalife Ltd. as Short-Covering Begins

Related HLF
Activision Blizzard, Inc., Herbalife Ltd. Highlight CNBC's Stock Pops & Drops From September 22
Herbalife Ltd. Rebounds After Icahn Dumping Rumor Fades
Claman on Call: Housing Data Dent Stocks (Fox Business)

In a report published Friday, D.A. Davidson analyst Timothy S. Ramey reiterated a Buy rating and $78.00 price target on Herbalife (NYSE: HLF).

In the report, D.A. Davidson noted, “Herbalife's short interest, which peaked at 37.2 million shares on December 31st (at a price of $32.94), fell recently to a still-huge 31 million shares on May 31st, down from 33 million shares on May 15th. The shorts have been buried in this position since the start of the year, with the stock up $12.50 plus $0.60 in dividends for a total return, year-to-date of 40%. That is before the 2.75% cost to borrow the stock. The short thesis has been thoroughly discredited and even on a day such as today, when a congresswoman asks the FTC to investigate Herbalife as a pyramid scheme, the shares are up.”

Herbalife closed on Thursday at $46.86.

Latest Ratings for HLF

DateFirmActionFromTo
Mar 2014Argus ResearchDowngradesBuyHold
Jan 2014DA DavidsonTerminatesBuy
Jan 2014S&P Capital IQUpgradesSellHold

View More Analyst Ratings for HLF
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Timothy S. RameyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (HLF)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional