Canaccord Genuity Maintains Buy On Herbalife Shares, $73 PT
In a research report issued today, Canaccord Genuity analyst Scott Van Winkle maintained a Buy rating on Herbalife Ltd (NYSE:HLF) with a price target of $73.00.
Winkle observed, “We believe Herbalife’s efficient business model will continue to drive robust earnings growth, and a heavily discounted valuation compensates for an ongoing FTC investigation. The quarterly news-driven wild ride into earnings has begun, but we believe that investor expectations are modest this quarter, as they should be. Financial results still impact the traders, but we believe the FTC investigation is all that matters to the investors at this price.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Van Winkle has a total average return of 10.9% and a 58.6% success rate. Van Winkle has a 8.4% average return when recommending HLF, and is ranked #162 out of 3336 analysts.