Physicians Formula Hldgs Inc fka FACE

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UPDATE 1-RESEARCH ALERT-Citigroup upgrades Physicians Formula

Adds details, share movement) Aug 20 (Reuters) - PHYSICIANS FORMULA HOLDINGS INC (FACE.O: Quote, Profile, Research) Current Prior
Rating Buy Hold
Price Target $13 $12 --Citigroup said it still expects the cosmetics company to
deliver 16 percent sales growth in 2008, despite the brokerage
having recently revised down its expectations for the company's
growth. --The brokerage raised its earnings estimates for the
company, saying the coming year would not be as pressured by
initial store setup expenses at Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) as
in the second quarter of 2007. --Citigroup now expects Physicians Formula to earn 2 cents
a share, compared with its previous view for a break even, in
the second quarter of 2008. For fiscal 2008, it expects the
company to earn 69 cents per share, up from the previous view
for a profit of 67 cents a share. --Shares of the company were up almost 11 percent at $10.03
in morning trade on the Nasdaq.
(Reporting by Neha Singh in Bangalore)

http://www.reuters.com/article/marketsNews/idUKBNG8160120070820?rpc=44