U.S. Bancorp drops Nautilus stock price target

The day after Nautilus announced it would miss fourth-quarter consensus estimates and that 2003 earnings will be lower than 2002, U.S. Bancorp Piper Jaffray decreased the company's target for its stock price from $19 to $15
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The day after Nautilus announced it would miss fourth-quarter consensus estimates and that 2003 earnings will be lower than 2002, U.S. Bancorp Piper Jaffray decreased the company's target for its stock price from $19 to $15, noting its current price of $14.14. The day after that announcement, the stock closed at 13.90, down 1.83 or 11.63 percent. As of Jan. 17, the stock closed at -13.11, another drop of 2.16 percent. The Vancouver, Wash.-based, company (NYSE: NLS) had said it anticipates fourth-quarter earnings of 66 cents to 69 cents a share, below the Thomson First Call consensus estimate of 71 cents a share. In the year-ago fourth quarter, Nautilus posted earnings of 57 cents a share.

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