BofA Merrill Lynch comes to the defense of Herbalife (HLF -5%) this morning, saying there's no...

|About: Herbalife Ltd. (HLF)|By:, SA News Editor

BofA Merrill Lynch comes to the defense of Herbalife (HLF -5%) this morning, saying there's no evidence to validate the accusation that the company's a pyramid scheme. The firm notes that HLF has one of the strongest balance sheets in the group, with the potential to drive $1 per share in EPS accretion if it were to fully exercise its $1B buyback. The stock may be pressured over the near-term until this blows over, but Merrill reiterates a Buy with a $65 target.