Canaccord Genuity Reiterates a 'Buy' on Herbalife (HLF); New China Licenses Reinforce Strong Growth Outlook
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Price: $8.82 -4.13%
Rating Summary:
8 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
8 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Canaccord Genuity reiterates a 'Buy' on Herbalife (NYSE: HLF) price target of $76.00.
Analyst, Scott Van Winkle, said, "This morning, Herbalife announced the receipt of eight new direct selling licenses in China for the following regions: Hebei Province, Shanxi Province, Tianjin Municipality, Heilongjiang Province, Hunan Province, Guangxi Zhuang Autonomous Region, Hainan Province and Anhui Province. These licenses go into effect immediately...We estimate China could account for 6% to 7% of consolidated sales this year. Our forecast assumes close to 20% volume growth, and we are making no change to our forecast...Moreover, leading indicators such as active sales leaders and new distributors continue to accelerate, reaching 31% YOY growth and 21% YOY growth, respectively, during Q1."
For an analyst ratings summary and ratings history on Herbalife click here. For more ratings news on Herbalife click here.
Shares of Herbalife closed at $45.96 yesterday.
Analyst, Scott Van Winkle, said, "This morning, Herbalife announced the receipt of eight new direct selling licenses in China for the following regions: Hebei Province, Shanxi Province, Tianjin Municipality, Heilongjiang Province, Hunan Province, Guangxi Zhuang Autonomous Region, Hainan Province and Anhui Province. These licenses go into effect immediately...We estimate China could account for 6% to 7% of consolidated sales this year. Our forecast assumes close to 20% volume growth, and we are making no change to our forecast...Moreover, leading indicators such as active sales leaders and new distributors continue to accelerate, reaching 31% YOY growth and 21% YOY growth, respectively, during Q1."
For an analyst ratings summary and ratings history on Herbalife click here. For more ratings news on Herbalife click here.
Shares of Herbalife closed at $45.96 yesterday.
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