UPDATE: Canaccord Genuity Downgrades USANA Health Sciences to Hold on Management Transition

Canaccord Genuity reduced its rating on USANA Health Sciences

from Buy to Hold and lowered its price target from $60 to $40. Canaccord Genuity commented, "While the beginnings of improvement in US sales trends and a modest valuation had attracted us to USNA shares, we expect that another management transition is likely to inhibit a normalization of the valuation. … While USNA's valuation is modest, and even discounted relative to its peers, we expect added organizational risk will lead to a perpetuated valuation discount and the shares could lag its peers in any normalization of the sector valuations." USANA Health Sciences closed at $38.42 on Thursday.