Nu Skin price target lowered to $21 from $29 at DA Davidson

DA Davidson lowered the firm’s price target on Nu Skin to $21 from $29 and keeps a Neutral rating on the shares. The company is reducing its assumed forward EBITDA multiple to 5-times from 6-times in the wake of the company’s Q3 miss reported on November 1 that was driven by a slowdown in consumer spending in China and a bigger Y/Y decline in the Americas due to consumers becoming more price sensitive, the analyst tells investors in a research note.