Honest Company price target raised to $4 from $1 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Honest Company to $4 from $1 and keeps a Hold rating on the shares. The analyst cites the company’s earlier ascension to profitability than expected, noting that while the firm sees an adjusted EBITDA loss in Q1, it expects positive EBITDA for the year. Catch-up price increases are also re-establishing Honest’s price premium and bolstering gross margin, the firm tells investors in a research note.