Citi Upgrades Bare Escentuals (BARE) to Buy
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Citi upgrades Bare Escentuals Inc (Nasdaq: BARE) from Hold to Buy. Price target $27.
Citi analyst says, "We expect that BARE will continue to deliver above-category growth, while the stock's currently attractive valuation also supports our Buy rating. Bare Escentuals is a relatively small player in the cosmetics industry, but they have carved out a niche among deeper-pocketed competitors like PG and L'Oreal, and have grown their market shares rapidly over the last few years, primarily in the facial cosmetics category, owing to the sales of their bundled product offerings. Looking forward, we are forecasting double digit sales, operating profit and earnings growth over the next few years, as the company expands their distribution in both domestic and international markets, while also growing their non-facial cosmetics product offerings."
Bare Escentuals, Inc. develops, markets and sells cosmetics, skin care and body care products under its bareMinerals, bareVitamins, RareMinerals, i.d. and namesake Bare Escentuals brands, and professional skin care products under its md formulations brand.
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