UPDATE: Deutsche Bank Raises Vitamin Shoppe's PT
According to a research report published earlier today, Deutsche Bank has increased Vitamin Shoppe's (NYSE: VSI) PT to $54.
In the report, Deutsche Bank commented, "Sentiment on VSI has 180'd over the past year, in our view, as shares of GNC have taken center stage. Not to take anything away from our friends in the 'burgh, but VSI lacks some respect and we think today's very impressive 1Q print, led by (1) a 9.6% comp, (2) 15.5% e-com growth, and (3) 90 bps of GPM improvement should do the trick. Net, at the end of the day, investors can own both VSI and GNC in this growing retail sub-sector. See our first take thoughts below."
Deutsche Bank maintains its Buy rating on Vitamin Shoppe, which closed yesterday at $44.76.
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