UPDATE: Loop Capital Upgrades The Honest Co. (HNST) to Buy

(Updated - July 16, 2021 6:21 AM EDT)

Loop Capital analyst Laura Champine upgraded The Honest Co. (NASDAQ: HNST) from Hold to Buy, PT $17.00.

The analyst comments "We are upgrading HNST from Hold to a Buy rating and maintaining our $17 price target for the shares. After the recent pullback in shares, we think potential destocking pressures in Q2 are more than adequately priced in at the current valuation of approximately 3x 2022 sales. Management has recently maintained that retail demand is strong, and any destocking-related weakness in Q2 should be made up in H2. We think a constrained supplychain and logistics providers struggling with surging demand has led to thin inventories throughout retail."

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 $14.65 yesterday.

You May Also Be Interested In

• Evercore ISI Upgrades First Solar (FSLR) to Outperform
• Piper Sandler Upgrades BlackLine (BL) to Neutral
• Roth/MKM Upgrades Albertsons Companies Inc. (ACI) to Buy, 'Fundamental Floor and Improved Deal Likelihood'