Analyst Upgrades Shares Of Bare Escentuals

NEW YORK (AP) — An analyst on Wednesday upgraded shares of mineral cosmetics manufacturer Bare Escentuals Inc., citing strong demand for mineral makeup — cosmetics made from natural minerals.

PiperJaffray analyst Neely J.N. Tamminga raised her rating to "Overweight" from "Neutral" and increased her share price target to $14 from $8.

Tamminga said Bare Escentuals remains popular among upper, middle-income female consumers, according to one of her recent surveys.

Tamminga also said there might be a chance for Bare Escentuals to benefit from Estee Lauder's decision to shut down its Prescriptives brand.

Shares of the company rose 35 cents, or 3 percent, to $12.17 in afternoon trading.