Honest Company price target lowered to $4.25 from $5.50 at Morgan Stanley

Morgan Stanley analyst Dara Mohsenian lowered the firm’s price target on Honest Company (HNST) to $4.25 from $5.50 and keeps an Equal Weight rating on the shares after Q2 results came in slightly above consensus. Following the Q2 EPS upside, the firm notes that its estimates are “roughly unchanged,” but it lowered its price target based on a lower multiple as Honest’s turnaround continues but with “more tempered growth rates” in the second half.