Morgan Stanley Lowers Honest Company Price Target By 18%

by Shivani Kumaresan, Benzinga Staff Writer

January 18, 2022 2:22 PM | 1 min read |

Morgan Stanley lowered the price target on Honest Company Inc HNST to $9 from $11, suggesting 35.6% upside, and kept an Equal-Weight rating on the shares.
Recently, JPMorgan analyst Andrea Teixeira reduced the price target on the company to $10 from $12 and kept an Overweight rating.
Teixeira expects Q4 "to be the worst from a profitability and sales point of view" with most household and personal care companies likely reporting sales deceleration on a two-year stack.
Teixeira believes the "worst in cost pressures will be behind in CQ4" sentiment along with the rotation to defensive names is "well subscribed at this point, leaving little room for disappointments if cost pressures persist longer."
Price Action: HNST shares are trading lower by 2.93% at $6.63 on the last check Tuesday.