Wedbush Upgrades USANA (USNA) to Neutral on Stronger Asia and Recent Sell-Off

February 7, 2013 7:49 AM EST
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Price: $61.71 +0.42%

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    3 Buy, 2 Hold, 0 Sell

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    Up: 29 | Down: 30 | New: 23
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Following fourth quarter results after the bell, Wedbush upgraded USANA Health Sciences Inc. (NYSE: USNA) from Underperform to Neutral with a price target of $40, citing a stronger-than-expected Asia and recent MLM selloff.

The firm comments, "Our earlier concerns over N. America recruiting trends, which remain down single digits in the face of emerging competitor ARIIX (which was formed last year by former senior USANA executives and distributors), have been more than offset in recent quarters by stronger-thanexpected sales in Asia, driven by faster-than-expected economic growth across major economies where USANA has successfully penetrated."

The firm raised 2013 forecasts for revenue to $710 million from $682 million, and for EPS to $5.14 from $4.65."

For an analyst ratings summary and ratings history on USANA Health Sciences Inc. click here. For more ratings news on USANA Health Sciences Inc. click here.

Shares of USANA Health Sciences Inc. closed at $37.93 yesterday.

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