LifeMD price target lowered to $8 from $14 at Lake Street

Lake Street analyst Ryan Meyers lowered the firm’s price target on LifeMD (LFMD) to $8 from $14 and keeps a Buy rating on the shares. Q3 results reflect “operational progress,” but a headwind from competitive pressures in the weight management business ultimately led to revised guidance for the standalone Telehealth business, the analyst tells investors. The firm is lowering its target based on revised estimates and a lower multiple.