Loop Capital lowered the firm’s price target on Honest Company to $3 from $5 and keeps a Hold rating on the shares. The firm cites the announcement that the founder Jessica Alba had stepped away from the C-suite as Honest had intended to monetize Alba’s social media presence when the company first IPO’ed. Loop adds however that it sees Honest as a “sustainable business model”, with neutral cash flow, positive adjusted EBITDA, and moderating EPS losses.
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