BofA Securities Starts The Honest Co. (HNST) at Neutral, 'Limited Visibility, Fickle Consumer Loyalty'

BofA Securities analyst Bryan Spillane initiates coverage on The Honest Co. (NASDAQ: HNST) with a Neutral rating and a price target of $17.00.

The analyst comments "We Initiate coverage of The Honest Co. (ticker: HNST) with a Neutral rating and $17 PO based on 4.7x 2022 EV/Sales putting it slightly ahead of Household and Personal Care (HPC) peers. HNST has attractive mid-teens sales growth and mid-single digit margin expansion prospects against a backdrop of increased interest in clean and natural
products. This is balanced against a valuation which in our view leaves limited upside dependent on positive earnings revisions."

For an analyst ratings summary and ratings history on The Honest Co. click here. For more ratings news on The Honest Co. click here.

Shares of The Honest Co. closed at $16.88 yesterday.

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