Meredith Alder of Barclays appeared optimistic on Herbalife HLF shares in a research note Tuesday morning. The analyst boosted her price target from $78 to $94 while maintaining an Overweight rating.
Adler attributed the boosted price target to her assumption for a large buyback plan (to the tune of $1.5 billion in shares) from Herbalife this year and also related to the company's business model in China.
The Barclays analyst believes Herbalife's business in China will be "unique" and "tightly controlled." She appears confident the issues with Nu Skin NUS will not affect Herbalife in a “material way."
Alder adjusted her 2014 EPS estimate from $5.65 to $6.27 in the note. The analyst consensus estimate currently sits at $5.76.
With Herbalife shares up 1.3 percent to $71.11 at last check, Alder's new price target represents potential upside of about 32 percent.
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