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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
Mar 2015Canaccord GenuityMaintainsBuy
Jan 2015BarclaysMaintainsOverweight
Jan 2015Buckingham ResearchDowngradesBuyNeutral

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