Hims & Hers price target lowered to $33 from $39 at Truist

Truist analyst Jailendra Singh lowered the firm’s price target on Hims & Hers to $33 from $39 and keeps a Hold rating on the shares as part of a broader research note previewing Q1 results in the Healthcare IT industry. The industry is typically shielded from macro uncertainty, but tariffs and concerns around an economic slowdown have created broader market uncertainty, which is never good for a high-beta highly volatile group like HCIT/Digital Health/Payviders, the analyst tells investors in a research note. Truist adds that while HCIT companies may not be directly exposed to new tariffs, several of these companies serve end markets – hospitals, pharma, etc. – which are likely to see either some direct impact on their supply chain costs or could decide to slow down on their investments.