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

Shares of Herbalife

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

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.