Herbalife (HLF) Gains as Analyst Sees Large Share Repurchases
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Herbalife's (HLF) Debt Package News Seen as 'Enormous Positive' at Pivotal Research
January 20, 2017 12:11 PM ESTPivotal Research reiterated a Buy rating on Herbalife (NYSE: HLF) with a price target of $90. Earlier Herbalife filed a memorandum for a $1.325B senior secured credit facility. Analyst Timothy Ramey said he was quite pleased with the structure and price talk. In his view, the news is an "enormous positive."
"...the company will have $1.5 billion in cash (and an undrawn $150 million revolver). The cash is specifically said to be used for 'growth investments and share repurchases within 18 months of the closing date. said Ramey. "Herbalife will not be sitting on... More
