UPDATE: Wedbush Upgrades Nutrisystem to Outperform

Wedbush is out with its report today on Nutrisystem (NASDAQ: NTRI), upgrading NTRI from Neutral to Outperform.

In a note to clients, Wedbush writes, "Raising rating to OUTPERFORM on easier comparisons, benefit from new product launches, improved competitive environment, and lower cost base. Revenue comparisons become much easier following Q2, which saw sales increase 7% last year. From Q2-Q4, sales decreased 5%, 17%, and 16%, respectively, providing much easier hurdles for the company to beat."

Wedbush raises its PT on NTRI from $17 to $19.

At the time of posting, shares of NTRI were trading pre-market at $15.05, up 5.02% from Wednesday's close.