UPDATE: Canaccord Genuity Downgrades USANA Health Sciences to Hold on Management Transition
Canaccord Genuity reduced its rating on USANA Health Sciences (NYSE: USNA) 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.
Latest Ratings for USNA
|Aug 2015||DA Davidson||Downgrades||Buy||Neutral|
|Jun 2015||DA Davidson||Initiates Coverage on||Buy|
|Apr 2015||Pivotal Research||Downgrades||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.