Deutsche Bank Raises PT On NUS To $45

Deutsche Bank has raised its price target from $43 to $45 on Nu Skin Enterprises NUS, citing the company's growth as the reason. In the report, Deutsche Bank writes, “Company is successfully lapping ageLOC launch in most regions, showing solid growth on growth ahead of Galvanic Spa Body launch and new Pharmanex launch later this year. US business remains challenging, but (i) business is just 13% of sales, (ii) comps start to ease, and (iii) faster growing developing markets are more than picking up the slack, and they drive the story. With valuation still compelling (8x CY12 EBITDA) and pristine balance sheet, stock remains our top SMID story, maintain Buy, raising target to $45 (from $43).” As mentioned Deutsche Bank maintains its Buy rating on the stock. NUS closed at $40.54 yesterday.