Shares of Nu Skin NUS are ticking off of session lows following an intraday note from Deutsche Bank.
The firm said, "We recently spoke with several direct selling CEOs, and the commentary
regarding the recent FTC pronouncement against direct seller Fortune Hi-Tech
Marketing and the industry are as follows:
1. The US Direct Selling Association denied Fortune Hi-Tech Marketing
membership after reviewing the company's business model, showing that the
DSA, of which Avon, Nu Skin, Herbalife and most others are members, is a
qualified self regulatory organization that is doing its job in weeding out those
with questionable regulatory practices and ensuring codes of conduct set for
itself and regulators are being followed within the letter and the spirit of the
law.
Avon and Nu Skin remain two of our top picks in 2013, with solid growth
prospects and compelling valuation at the latter and nascent signs of
turnaround progress off very undemanding top and bottom line expectations
for the former. In a broader consumer staples group where valuations are
extended relative to growth, investors should start to flock to the more more
volatile turnaround stories."
The stock is now up 0.3 percent to around $42.90.
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