Citi upgraded Hims & Hers to Neutral from Sell with a price target of $24, up from $13.25. The stock closed Monday up 41%, or $6.42, to $22.40. The renewed partnership with Novo Nordisk (NVO) “significantly de-risks” Hims & Hers, the analyst tells investors in a research note. Citi points out that Novo dropped its lawsuit against Hims, which “significantly diminishes” the company’s legal risk. The firm turns more constructive on the shares post the news.
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