Medifast price target lowered to $40 from $67 at DA Davidson

DA Davidson lowered the firm’s price target on Medifast (MED) to $40 from $67 and keeps a Neutral rating on the shares after its Q4 results and below-consensus guidance. The Coach/GLP-1 offering in partnership with LifeMD (LFMD) should launch in late June, with heavy investment to continue in the first half of 2024, the analyst tells investors in a research note. Quarterly EPS could trough in Q3, with Coaches and productivity bottoming in Q2, the firm added, also reducing its FY25 EPS view to $3.65 from $6.13.