UPDATE: Bank Of America Downgrades Nu Skin Enterprises
In a report released Friday, Bank of America analyst Olivia Tong downgraded Nu Skin Enterprises (NYSE: NUS) from Neutral to Underperform and cuts its price target to $ 63 a share
The downgrades is due to Nu Skin challenges faced in China with low-cost leverage including a higher fixed base in units until recently. China is Nu Skin’s fastest growing market, but currently faces trouble in decreasing clearance on covenants. The Bank of America note included company difficulty in a higher fixed-cost base in China, negative feedback in the near-term in survey of multi-level direct markers and troublesome comp reports in its last quarter.
Analysts at Bank of America cut full year 2014 EPS from the range of $ 6.22 to $ 6.93 to the range of $ 5.25 to $ 5.75.
Posted-In: Bank of America Olivia TongDowngrades Price Target Analyst Ratings
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