Hims & Hers price target raised to $23 from $13 at Truist

Truist raised the firm’s price target on Hims & Hers to $23 from $13 but keeps a Hold rating on the shares ahead of its Q2 results and as part of a broader sector research note. Investor expectations already reflect a strong “beat and raise” Q2, with the magnitude of guide raise likely to drive share price move from these levels, the analyst tells investors in a research note. Truist adds however that it remains at neutral on the name given the lack of long-term visibility of compounded GLP-1s, especially after the branded supply shortage is resolved.