UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT for Vitamin Shoppe

In a company update released earlier today, the Goldman Sachs Group, Inc. reiterated its Neutral rating for Vitamin Shoppe, Inc. VSI and raised its price target from $49.00 to $56.00. Goldman Sachs said it made its decisions “as we hike our estimates on the flow-through of increased sales, and in addition we roll forward our risk/reward framework based on relative P/E. We also increase our Relative P/E multiples to reflect the enhanced trajectory of the business. The base-case multiple goes to 185% from 162% and the best-case multiple increases to 205% from 200%; our worst-case remains unchanged. Downside risks to our price target include moderating sector growth and regulatory risk; upside risks include a reacceleration in sales growth—driving multiple expansion.” Vitamin Shoppe, Inc. closed yesterday at $51.61.