Deutsche Bank Remains Bullish on Nu Skin Despite Recent Sharp Move Lower, Maintains Buy Rating

Bulls in shares of Nu Skin Enterprises NUS are finally getting some relief Wednesday as an optimistic note from Deutsche Bank's Bill Schmitz is turning heads. The stock closed up more than 6 percent; shares have plunged about 50 percent over the last week. Although Schmitz reduced his price target on Nu Skin shares from $150 to $115 in the note from late Tuesday, the analyst said he is maintaining a Buy rating. The Deutsche Bank analyst believes investors are "currently discounting a significant decline in the company's Chinese business," creating an attractive entry point. He also pointed at a "pristine" balance sheet and fundamentals outside of China which "are still among best in class across the CPG universe." With shares of Nu Skin closing Wednesday's trading session at $82.15, Schmitz's new, reduced price target implies potential upside of about 40 percent.