DA Davidson Starts Herbalilfe Ltd (HLF) at Buy
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DA Davidson initiates coverage on Herbalilfe Ltd (NYSE: HLF) with a Buy rating and $60 price target. The firm notes that 80% of sales at the multi-level marketer come from outside.
The firm was also positive on the structure of Herbalife. Analyst Timothy Ramey said, "We like the structure of Herbalife with a significant percentage of sales going to the breakfast club market. This market uses social networking and common goals of weight loss and health to reinforce attendance and product use. It is a remarkable model and responsible for a meaningful percentage of the company's growth. Importantly, the Herbalife message is spot-on with the best scientific thinking on weight loss - it is a life-long commitment to a change of diet." [LJ]
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