As previously reported, Argus analyst John Staszak downgraded Herbalife Nutrition to Hold from Buy, saying the stock looks "fairly valued" at current levels and reflects expectations for a revenue decline of 4%-8% and a roughly flat earnings growth in FY19 that the management guided in February. The analyst also notes that after "aggressive" stock buybacks in recent quarters, the management has not yet offered an outlook for repurchases in 2019. Staszak claims that he we return to a Buy rating on Herbalife Nutrition if the company accelerates its buyback program or if earnings exceed his forecasts.