NUS - Nu Skin +7% after BofA moves off bearish stance

Bank of America hikes Nu Skin (NUS) to a Neutral rating after having the stock lined up at Underperform as it points to momentum ahead of Q4 launches. "Nu Skin’s improved growth, which has been driven by social selling, sets the company up well ahead of innovation slated to launch in Q4. NUS has transitioned its model online better than we had anticipated but a key sticking point for us was continued declines in its leader and customer base despite the deceleration in sales declines.""Customer count improved last quarter and the company reported after yesterday’s close that sales leaders grew in Q3, the first time since late 2018." BofA lifts its price objective on Nu Skin to $58 from $54, which works out to a P/E ratio of 17X off 2021 estimates. Shares of Nu Skin are up 7.46% premarket to $55.00.

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Nu Skin +7% after BofA moves off bearish stance