We are reiterating our Buy rating and $22.50 price target for Betterware after the company reported an impressive 1Q, with better than expected top line results. Further, management reiterated 2024 revenue and EBITDA guidance. There was also material progress at Betterware, which enjoyed double-digit increases in average ticket and revenue and is nearing the shift to positive growth in Associates. JAFRA Mexico also registered another strong quarter, as the acquisition has remained a key winner. The United States market is slowly coming into focus, with Betterware going live on April 16th, setting the stage for what should be another exciting growth story. As such, and with BWMX yielding 8%, we view the risk/reward as compelling and reiterate our Buy rating and $22.50 price target.
26 Apr 2024
Duplicate of BWMX: 1Q Review: In-Line Q, With Multiple Positives (Updated); Reiterate Buy
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Duplicate of BWMX: 1Q Review: In-Line Q, With Multiple Positives (Updated); Reiterate Buy
Medifast (MED:NYSE), 0 | Medifast, Inc. (MED:NYS), 0 | Betterware de Mexico, S.A.P.I. de C.V. (BWMX:NAS), 0 | DD3 Acquisition Corp (DDMX:NYSE), 0 | Nu Skin Enterprises (NUS:NYSE), 0 | Nu Skin Enterprises, Inc. Class A (NUS:NYS), 0
- Published:
26 Apr 2024 -
Author:
Eric Beder -
Pages:
8
We are reiterating our Buy rating and $22.50 price target for Betterware after the company reported an impressive 1Q, with better than expected top line results. Further, management reiterated 2024 revenue and EBITDA guidance. There was also material progress at Betterware, which enjoyed double-digit increases in average ticket and revenue and is nearing the shift to positive growth in Associates. JAFRA Mexico also registered another strong quarter, as the acquisition has remained a key winner. The United States market is slowly coming into focus, with Betterware going live on April 16th, setting the stage for what should be another exciting growth story. As such, and with BWMX yielding 8%, we view the risk/reward as compelling and reiterate our Buy rating and $22.50 price target.