Herbalife (HLF) shares are soaring 5.41% in pre-market trading after DA Davidson upgraded the stock from Neutral to Buy, significantly boosting investor confidence in the nutritional supplement company.
The upgrade comes with a substantial increase in the price target, from $7.50 to $14, suggesting strong upside potential for Herbalife. DA Davidson analyst Linda Bolton Weiser's decision follows a meeting with the company's CEO, which apparently bolstered the firm's outlook on Herbalife's future performance. The analyst now views Herbalife's sales growth as sustainable, indicating a positive shift in the company's long-term prospects.
This upgrade highlights renewed optimism in Herbalife's strategic initiatives under its new leadership. As the market digests this positive assessment, investors will be watching closely to see if the pre-market gains hold and potentially expand during the regular trading session. The significant price target increase also suggests that DA Davidson sees substantial room for growth in Herbalife's stock price in the coming months.
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