Citing an "increased interest in overall health and fitness, rather than in weight-loss products only," Argus upgrades Herbalife (NYSE:HLF) from Hold to Buy with a $54 price target.
Analyst John Staszak notes that Herbalife's expanded product line takes advantage of this trend, and the company's distributors have used Zoom and other new technologies to reach customers during the pandemic.
Staszak raises his 2020 EPS estimate from $2.80 to $3.16 and lifts 2021 EPS from $3.30 to $3.60.
Herbalife shares are up 4.3% to $46.91. The company has a Very Bullish average Wall St. Analysts rating.