Deutsche Bank Remains Bullish on Nu Skin Despite Recent Sharp Move Lower, Maintains Buy Rating
Bulls in shares of Nu Skin Enterprises (NYSE: 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.
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