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Fly News Breaks for October 7, 2015
NUS
Oct 7, 2015 | 08:06 EDT
Citi analyst Beth Kite expects shares of Nu Skin Enterprises to open down following its guidance cut for the second half of 2015, but she feels shares may not fall as much as feared. Last night's news release contained some positives, including Youth selling well in its debut in South Asia/Pacific and the expectation that Q4 local currency sales should be up high-single-digits despite China, Kite tells investors in a research note. She is "cautiously optimistic" that Nu Skin shares will not drop any lower than the $39 they reached in mid-Summer. The analyst cut her price target for the stock to $48 from $54 and keeps a Buy rating on Nu Skin.
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