Herbalife price target lowered to $11 from $13.50 at DA Davidson

DA Davidson analyst Linda Bolton Weiser lowered the firm’s price target on Herbalife to $11 from $13.50 and keeps a Neutral rating on the shares. The company’s Q4 sales beat but EBITDA missed estimates due to higher-than-expected SG&A expense, the analyst tells investors in a research note. Constant-currency sales growth has resumed however, and the firm is boosting its assumed EBITDA multiple to 5.5-times from 5.0-times, DA Davidson added.