Canaccord Genuity Reiterates a 'Buy' on Herbalife (HLF); Business Momentum Continues, Adjusting Estimates for Currency

Canaccord Genuity reiterates a 'Buy' on Herbalife (NYSE: HLF) price target of $71.00.

Canaccord analyst, Scott Van Winkle, said, "We reiterate our rating and believe Herbalife’s efficient business model along with deployment of its daily consumption models across its major markets will continue to drive double-digit revenue and earnings growth...Lowering F2011 and F2012 EPS estimates to $3.03 and $3.41 from $3.07 and $3.55, respectively, to reflect 10% declines in the euro and Mexican peso."

For more ratings news on Herbalife click here and for the rating history of Herbalife click here.

Shares of Herbalife closed at $55.58 yesterday.

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