Loop Capital downgraded Honest Company (HNST) to Hold from Buy with an unchanged $7 price target. The analyst notes that following a 120% run in the stock year-to-date, driven by healthy sales growth and profitability and balance sheet improvements, Honest shares have reached the firm’s price target. Loop further cites that among its “primary concerns” for 2025 is that the company is producing all of its wipes in China, and its product and supply-chain costs would be likely to increase in the event of tariffs. The firm adds however that Honest’s relationship with Amazon (AMZN) remains a bright spot, with consumption at the company’s “largest digital customer” up 19% in Q3.
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Read More on HNST:
- Honest Company downgraded to Hold from Buy at Loop Capital
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