UPDATE: Auriga Initiates NutriSystem at Buy

Auriga is out with its report today on NutriSystem (NASDAQ: NTRI), initiating NTRI at Buy.

In its report, Auriga writes, "Initiate with Buy and $19 price target. Despite challenges earlier this year, Nutrisystem has been able to rebound due to its efficient operating efforts as well as its targeting promotional campaigns. After disappointing early year guidance, the company exceeded expectations in the first and second quarter. We expect the company to bounce back in 2012 through efforts to improve its menu, a revitalized marketing effort, as well as expansion into new markets."

Shares of NTRI closed Tuesday at $11.85.