Herbalife (HLF) PT Raised to $11 at Mizuho

Mizuho analyst John Baumgartner raised the price target on Herbalife (NYSE: HLF) to $11.00 (from $10.00) while maintaining a Neutral rating.

The analyst comments "Into FY26, details of HLF's evolution under new CEO Stephan Gratziani are increasingly encouraging. The early uptake of innovation and health technology is positive, and increases the probability that North America can return to sustainable volume growth in FY26E. We remain bullish on plans to modernize the community, broaden the platform, and expand opportunities to reach new and existing consumers including through a budding personalized nutrition platform. Although total volume declines persist, the rate is moderating (from -MSD% to -LSD%), and we believe a return to corporate volume growth is possible in FY26E from demand-generating initiatives since FY24. We are increasing our EBITDA estimates for FY25E ($652MM/$645MM) and FY26E ($675MM/ $668MM), and our price target to $11 from $10 on ~4x our CY26E EBITDA. We look for greater indications of a volume inflection that can further enhance the risk/reward."

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