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Herbalife Shares Edge Higher; Wedbush Boosts Target to $90, Analyst Shows No Concern on Nu Skin Product

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Shares of Herbalife (NYSE: HLF) are trading up about a percent Friday morning as traders are cheering a boosted price target from Wedbush's Rommel Dionisio.

Dionisio now expects Herbalife shares to rise to $90 over the next year, up from $80 previously.

The analyst believes Herbalife will be buying back additional shares more aggressively on the heels of the recent re-audit conclusion. Dionisio noted the firm's distributor checks are indicating "not even a slight" slowdown in sales growth following the unveiling of a new Nu Skin (NYSE: NUS) product.

Wedbush maintains an Outperform rating on shares of Herbalife.

With Herbalife shares last trading around $79.50, Dionisio's new price target implies potential upside of about 13 percent.

Latest Ratings for HLF

DateFirmActionFromTo
May 2015Canaccord GenuityMaintainsBuy
Mar 2015Canaccord GenuityMaintainsBuy
Jan 2015BarclaysMaintainsOverweight

View More Analyst Ratings for HLF
View the Latest Analyst Ratings

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