Auriga Reiterates Buy, $17 PT on Nutrisystem

In a note out today, Auriga reiterated a buy rating and $17 price target on weight-loss firm NutriSystem (Nasdaq: NTRI), implying significant upside from current levels.

“With Nutrisystem's announcement that Janet Jackson will be its new female celebrity ambassador, the company delivered on hiring an A-List international star. We believe the announcement, as well as the surrounding media attention, should help Nutrisystem's new “Success” promotion get off to a solid start. We expect the new program to reignite a buzz around Nutrisystem, thereby providing product price support compared to last year,” Auriga said in the note.