Hims & Hers price target raised to $14.50 from $12.50 at BofA

BofA raised the firm’s price target on Hims & Hers to $14.50 from $12.50 and keeps a Buy rating on the shares after the company reported “another good quarter” and provided first time 2024 revenue and EBITDA guidance that was significantly ahead of expectations. Hims’ size and scale at $1B-plus revenue in 2024 is “already a differentiator” and the relative benefits should become even more apparent as many of the company’s peers are struggling or are unable to invest in advertising and marketing, the analyst tells investors in a post-earnings note.