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Newbridge Securities Initiates Coverage of the Consumer Products Sector with Nu Skin Enterprises (NUS)
英文
Copyright © 2009 PR Newswire Association LLC. All Rights Reserved.
FORT LAUDERDALE, Fla., Nov. 18 /PRNewswire/ -- Newbridge Securities Corporation announces the initiation of coverage of the Consumer Products Sector. The coverage launch on November 13, 2009, authored by Kathleen Reed, Senior Vice President, began with an initiation report on Nu Skin Enterprises (NUS: Buy-rated).
Breakthrough Valuation Warranted
"Although NUS is trading near the high end of its historical range - we believe a breakthrough valuation is warranted given positive trends on both the top and bottom line. Our $32 price target is a 30% premium to the market on our 2010 earnings estimate of $1.60 per share."
According to Kathy "there are four reasons why we like the company and the stock. First, local currency sales in Japan and China have been improving. Second, the company continues to diversify its revenue base. Third, we expect operating margin to continue to see expansion and fourth, we see potential upside to 4Q 2009 and full year 2010 estimates."
Gary Spivak, Director of Equity Research, stated: "It is great to have Kathy publishing research with Newbridge, and very fitting that the first company rolled out is Nu Skin Enterprises, a company she has followed in the past and a name where she has developed a strong reputation for her work. In fact, since her initiation, the company subsequently raised expectations for Q4 2009 and provided initial 2010 guidance higher than current consensus, as forecast by Kathy in her report."
About Newbridge
Newbridge Securities Corporation is a full-service securities broker-dealer and investment bank with corporate offices in Florida and locations throughout the United States. Since 2000, the Firm has served a broad range of individual and corporate clients, with a focus on providing quality products, services and advice.
For more information on Newbridge, please visit our public web-site at www.newbridgesecurities.com [http://www.newbridgesecurities.com]
SOURCE Newbridge Securities Corporation
Gary Spivak, Director of Equity Research, Newbridge Securities Corporation, +1-954-334-3450, gspivak@newbridgesecurities.com
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