For more than a year, Herbalife’s biggest booster got his kicks kicking Bill Ackman while he was down, gleefully touting how he had been proven right about the world’s favorite diet shakes time and time again, while the Pershing Square founder had been proven the opposite, also over and over again. But at the beginning of the year, it occurred to Tim Ramey that repeatedly sticking his finger in Bill Ackman’s eye is really no way to live, and that he should try to do something constructive with his life, like corporate consulting.
But as he’s watched Ackman’s hopes get up and then dashed once again, Tim realized it is foolish to deny one’s passions. And so while he’s keeping his office over at Post Holdings, he’s ready to publicly sing the praises of his favorite multi-level marketing company once again, giddily predicting just how much more money Ackman is going to lose.
Tim Ramey, a former analyst at D.A. Davidson who took a consulting gig earlier this year, is back on the sell-side, this time with a firm called Pivotal Research Group. In his first research note on Herbalife since January, Mr. Ramey unveiled a buy rating and a 12-18 month price target of $110 on the stock. That’s more than double the current price….
“We anxiously look forward to the deal with the FTC — it will likely bless the current structure while extracting some pound of flesh for sins of the past,” Mr. Ramey wrote to clients this week. “We can envision an ‘FTC day’ being a day when Herbalife shares rise 50% or more.”
Herbalife Bull Is Back, More Bullish Than Ever [WSJ MoneyBeat blog]