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

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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.

Posted-In: Canaccord GenuityAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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