Herbalife price target lowered to $16 from $23 at B. Riley

B. Riley lowered the firm’s price target on Herbalife to $16 from $23 and keeps a Buy rating on the shares following the “mixed” Q4 report. Herbalife “is a big ship to turn and although progress is being made, FY24 likely will be a transitional year,” the analyst tells investors in a research note. However, the firm believes the company’s ongoing initiatives have potential to enable it to drive sales growth and margin expansion in fiscal 2025.