Nu Skin price target lowered to $6.75 from $11.50 at Citi

Citi lowered the firm’s price target on Nu Skin (NUS) to $6.75 from $11.50 and keeps a Neutral rating on the shares. The analyst updated estimates ahead of the company’s Q3 results on November 7. The firm believes Nu Skin’s Q3 sales outlook has worsened as macro environments and beauty category trends have softened, which could lead the company to lower its 2024 implied sales guidance. Although the company’s sales trends could begin to improve in Q4, visibility into the pace of stabilization is low and is unlikely to be linear, the analyst tells investors in a research note.