Honest Company price target raised to $4 from $2 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Honest Company to $4 from $2 and keeps a Market Perform rating on the shares. Honest Company’s Q4 results demonstrate the Transformative Initiative efforts are becoming successful and the firm is encouraged by the company’s improvement throughout FY23, the analyst tells investors. The business, however, is still in the early days of its transformation efforts and the profitability potential of the model remains uncertain amid a challenging macro environment, the firm adds.