Susquehanna Downgrades Obagi Medical Products (OMPI) to Neutral

October 23, 2008 8:52 AM EDT

Susquehanna downgrades Obagi Medical Products (Nasdaq: OMPI) to Neutral.

Susquehanna analyst says, "We are decreasing our growth expectations on OMPI due to the economic environment and consumer sensitivity for the company's products. Given the current depressed state of the economy and the renewed expectations of a continuing recessionary environment, our expected growth concerns for the company are heightened. We believe this is confirmed by our proprietary survey of appointment availability for cosmetic procedures, which has reported a decreasing demand trend across the summer with no pickup this early fall. It was this week's reported lowest average wait time, lowest longest wait time, and highest availability within two days data points since the beginning of our survey that sparked us to act today."

Obagi Medical Products, Inc. is a specialty pharmaceutical company focused on the aesthetic and therapeutic skin health markets.

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• Susquehanna International Group of Companies

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