Market Overview

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

Related GNC
Stocks Hitting 52-Week Lows
Top 4 NYSE Stocks In The Drug Stores Industry With The Highest ROE

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.

Posted-In: Goldman SachsAnalyst Color Upgrades Analyst Ratings

 

Most Popular

Related Articles (GNC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters