Hims & Hers price target lowered to $40 from $60 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Hims & Hers to $40 from $60 and keeps an Equal Weight rating on the shares. Survey data points to solid underlying trends in the business and the stock is “beginning to look interesting following a sharp correction,” the analyst tells investors. However, the key to reversing negative sentiment will be demonstrating continued momentum in the core business and gaining visibility into weight loss revenue, the analyst added.