Hims & Hers price target raised to $16 from $12 at Citi

Citi raised the firm’s price target on Hims & Hers to $16 from $12 and keeps a Buy rating on the shares. The company reported another solid quarter and introduced 2024 guidance well ahead of expectations, the analyst tells investors in a research note. The firm says that despite decreasing prices in some personalized and longer duration products, Hims & Hers’ gross margins remain “very healthy.”