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UPDATE: Goldman Sachs Upgrades GNC Holdings to Buy Sales, Earnings Trajectory Into 2014

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Goldman Sachs upgraded GNC Holdings (NYSE: GNC) from Neutral to Buy and raised the price target from $44.00 to $50.00.

Goldman Sachs commented, "We upgrade GNC to Buy (from Neutral) as we expect the trajectory for sales and earnings is likely to sustain a stable-to-expanding multiple after a lengthy period of deceleration and multiple contraction. The story's underlying appeal relates to wellness exposure / rapid category growth; an emerging global presence in a potent category; heavy private brand representation that protects margins and provides shelter from online incursions; a new marketing campaign; and shareholder-friendly capital allocation. A successful transition for the firm's Gold Card loyalty program is the lynchpin of our thesis."

GNC Holdings closed at $40.60 on Friday.

Latest Ratings for GNC

DateFirmActionFromTo
Aug 2014Credit SuisseUpgradesNeutralOutperform
Jul 2014Deutsche BankMaintainsHold
Jul 2014JefferiesMaintainsHold

View More Analyst Ratings for GNC
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Analyst Ratings

 

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