Piper Jaffray Neutral On Physicians Formula (FACE)

Piper Jaffray has a Neutral rating and a $4 price target on shares of Physicians Formula FACE.

In a note to investors, Piper Jaffray writes, "Physicians Formula reported better-than-expected net sales and revenue in FQ4
despite posting a wider-than-expected loss per share. It appears that performance of the company's new products thus far in 2011 has been stellar, with sell-throughs up 44% through February against the 2010 class of new products. To capitalize on this
momentum, marketing spending is planned up significantly for FY11, which will likely result in a net loss for the year. However, if this move proves successful, it could potentially lead to meaningful upside to our FY12 forecast."

Shares of FACE lost 5 cents yesterday to close at $4.46, a loss of 1.16%.