Reported 5 months ago
Citigroup has downgraded Hims & Hers Health (HIMS) to Neutral from Buy and raised its price target to $20 from $16. This move has impacted the company's stock valuation, with the stock down 7%. Despite the downgrade, analysts still like the company in the long term, citing the potential revenue opportunity from selling GLP ones through their site. However, with the stock having rallied significantly, Citigroup believes there is limited upside and uncertainties surrounding the economics of GOP ones, prompting them to move to the sidelines.
Source: YAHOO