Jefferies' Consumer Sector Update (AVP, HLF, NUS, TUP, USNA)

Jefferies & Company is out with a research report this morning, where it takes a look at the consumer sector. The analysts said that they remain bullish on global direct sellers. The analysts said that they remain “favorably disposed to the global direct sellers,” with Avon Products, Inc.

, Herbalife Ltd.

, Nu Skin Enterprises, Inc.

, Tupperware Brands Corporation

and USANA Health Sciences, Inc.

being their favorites. The analysts cited their broad international exposure, especially to rapidly growing emerging markets, as well as their strong free cash flow generation, much of which is returned to shareholders via dividends and share buyback. They finally noted that currency has become broadly more favorable since the 2Q's earnings season as well, with the U.S. Dollar down an average of 5% versus a basket of 17 currencies; recent strength in the yen (

) and euro (

) are particularly notable.