Bank of America Maintains Sell Rating on Hims & Hers Amid Rising Competition

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2025-09-05 08:42:03

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Bank of America reaffirmed its bearish stance on Hims & Hers Health (HIMS), citing intensifying competition in the telehealth sector. Analyst Allen Lutz retained a Sell rating with a $28 price target, signaling a potential 42% downside. The stock's recent 8.2% surge followed a court ruling dismissing Eli Lilly's lawsuit against a rival telehealth provider, easing investor concerns over similar legal risks facing HIMS.

The direct-to-consumer telehealth market has seen explosive growth, with new entrants like Remedy Meds projecting $450 million in GLP-1 drug revenue this year alone. Bank of America warns that mounting competition in sexual health, hair loss, and weight loss segments could trigger industry consolidation as firms scramble for scale and distribution advantages.

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