Physicians Formula Hldgs Inc fka FACE

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Physicians Formula Holdings Inc. closes up on upgrade

Jennifer Schonberger | Aug 20, 2007 5:15pm EDT | User Rating N/A

Shares of Physicians Formula Holdings Inc. (Nasdaq: FACE) closed higher today after Citigroup upgraded the cosmetics company to a “buy” rating from “hold” and increased its target price to $13 from $12.

Citigroup analyst Wendy Nicholson said she thinks the stock has bottomed out from a fundamental and valuation standpoint and “now offers an attractive entry point.”

Shares of Physicians Formula have declined 60% since April on account of negative earnings revisions, poor communication from management and an overall weaker consumer spending environment, according to Nicholoson. The company now trades at 13 times Nicholson’s revised calendar year 2008 EPS estimate.

http://www.smallcapinvestor.com/articles/small_cap_news/news/08/20/2007/physicians_formula_holdings_...