Hims & Hers downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Craig Hettenbach downgraded Hims & Hers to Equal Weight from Overweight with a price target of $60, up from $42. The firm says that while it continues to have a favorable view of the Hims & Hers platform, the strong momentum in the company’s business is now adequately appreciated in the shares. Volatility around weight loss drug developments “likely creates opportunities in both directions,” the analyst tells investors in a research note. Morgan Stanley points out the shares are up 150% year-to-date. It believes the stock is due for a “breather after a torrid run.”