Herbalife price target lowered to $9.50 from $11 at DA Davidson

DA Davidson analyst Linda Bolton Weiser lowered the firm’s price target on Herbalife to $9.50 from $11 and keeps a Neutral rating on the shares. The firm is raising its 2024 EBITDA outlook by $40M or 8% to reflect the company’s new cost cuts, but with Oprah’s endorsement of GLP-1 drugs, the long-term risks to the Herbalife core business have increased, the analyst tells investors in a research note. DA Davidson is also reducing its assumed target multiple for the stock to 4.5-times from 5.5-times.