LifeMD price target lowered to $12 from $14 at KeyBanc

KeyBanc lowered the firm’s price target on LifeMD (LFMD) to $12 from $14 and keeps an Overweight rating on the shares. The firm notes the company reported a top- and bottom-line miss mainly on elevated CAC during Q2 within its RexMD business, which in turn drove down sales volumes. As a countermeasure, LifeMD is diversifying its RexMD business to give it more places to allocate capital should the company see another disruption.