Piper Sandler analyst Sean Wieland upgraded Hims & Hers to Overweight from Neutral with a price target of $12, up from $10. The company increased fiscal 2021 sales guidance for the third consecutive quarter, following a “strong Q3 beat across all key metrics,” Wieland tells investors in a research note. Hims & Hers does not have the clinical expertise, payor support or technological infrastructure to transform U.S. healthcare at scale, but at current share levels, “that is ok,” says the analyst. He says Hims & Hers is dominating the cash-pay, low-to-mid acuity direct-to-consumer markets for sexual health, dermatology and hair loss. The company is executing consistently and the stock is undervalued, contends Wieland.