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Hims & Hers price target raised to $38 from $28 at Canaccord

The article from Business Insider discusses Canaccord Genuity's decision to raise the price target for Hims & Hers Health, Inc. from $28 to $38, while maintaining a buy rating on the stock. This adjustment reflects the firm's confidence in the telehealth company's growth potential, particularly in the mental health sector. Analyst Richard Close highlighted Hims & Hers' strategic moves into new markets like weight loss and cardiovascular health, which are expected to drive further revenue growth. The company has shown strong performance with a 46% year-over-year revenue increase in the first quarter, and its focus on expanding its product offerings and subscriber base is seen as a positive sign for future profitability and market expansion.

Read the Full Business Insider Article at:
[ https://markets.businessinsider.com/news/stocks/hims-hers-price-target-raised-to-38-from-28-at-canaccord-1034087526 ]