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HLF

Herbalife Nutrition

$53.85

-0.14 (-0.26%)

08:47
05/25/18
05/25
08:47
05/25/18
08:47

Herbalife Nutrition announces preliminary results of self-tender offer

Herbalife Nutrition announced the preliminary results of its "modified Dutch auction" tender offer, which expired May 24 to purchase up to an aggregate of $600M of the company's common shares at a cash purchase price not greater than $54.00 nor less than $49.00 per share. Based on the preliminary count by Computershare Trust, the depositary for the tender offer, a total of approximately 49.7M common shares of the company were properly tendered and not properly withdrawn at or below the price of $52.50 per share. In accordance with the terms and conditions of the tender offer and based on a preliminary count by the depositary, the company expects to accept for payment a total of approximately 11.4M common shares of the company at a cash purchase price of $52.50 per share, for a total cash cost of approximately $600M, excluding fees and expenses relating to the tender offer. These common shares represent approximately 6.5% of the company's total outstanding shares as of May 23. Because the tender offer is oversubscribed, the company expects to purchase only a prorated portion of the common shares properly tendered by each tendering shareholder at the final per share purchase price. Based on the preliminary tender count, and accounting for the effect of "odd lot" priority on the proration factor, the depositary has informed the company the preliminary proration factor for the tender offer is expected to be approximately 23% of the shares properly tendered at or below the cash purchase price of $52.50 per share and not properly withdrawn based on the total number of shares reported to be tendered at or below $52.50 per share and not withdrawn prior to the expiration of the tender offer and accounting for "odd lot" priority and the conditional tender provisions of the tender offer. This preliminary proration factor is subject to change.

HLF Herbalife Nutrition
$53.85

-0.14 (-0.26%)

03/05/18
SBSH
03/05/18
UPGRADE
SBSH
Buy
Herbalife Nutrition upgraded to Buy from Neutral at Citi
03/06/18
SBSH
03/06/18
UPGRADE
Target $114
SBSH
Buy
Citi sees further upside in Herbalife, upgrades shares to Buy
Citi analyst Beth Kite last night upgraded Herbalife to Buy from Neutral and raised her price target for the shares to $114 from $85. The stock in premarket trading is up 3%, or $2.98, to $97.25. Since January, the company has made capital allocation announcements, enacted several executive changes, and found out that Bill Ackman closed out his long-standing and well-publicized short position, Kite tells investors in a research note. The analyst sees further upside in the shares as Herbalife executes a tender offer and refinances its debt, to both reinvest in the business and repurchase shares in 2019. If the company can deliver its local currency sales growth guidance in 2018, it would be one of the best top line stories in Household/Personal Care Products, Kite contends.
03/06/18
03/06/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. UPS (UPS) upgraded to Buy from Hold at Stifel with analyst David Ross saying after the recent share pullback, UPS' valuation is "reasonable" considering the risks ahead and the increased capital investments expected over the next several years. 2. PPL Corp. (PPL) upgraded to Outperform from Sector Perform at RBC Capital with analyst Shelby Tucker saying he believes that the uncertainty around the impact of RIIO-2 price controls on the company's financials has been more than discounted in the stock price, while the equity needs due to tax reform have also been digested by investors. 3. First Republic (FRC) upgraded to Overweight from Equal Weight at Barclays with analyst Matthew Keating saying he believes the impact of First Republic's "millennial strategies" on client household acquisition is underappreciated and that tax reform will not weigh the bank's businesses. 4. Herbalife Nutrition (HLF) upgraded to Buy from Neutral at Citi with analyst Beth Kite saying since January, the company has made capital allocation announcements, enacted several executive changes, and found out that Bill Ackman closed out his long-standing and well-publicized short position. 5. Mylan (MYL) upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/04/18
RHCO
05/04/18
NO CHANGE
Target $105
RHCO
Hold
Herbalife Nutrition price target raised to $105 from $76 at SunTrust
SunTrust analyst Michael Swartz raised his price target on Herbalife to $105 following its Q1 earnings beat that also showed "improving trends in the U.S." The analyst notes however that China volume fell dramatically by 23% after last year's price increase. Swartz keeps his Hold rating on Herbalife and recommends that investors don't chase the stock price after its year-to-date gains.

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