UPDATE: Goldman Sachs Upgrades Vitamin Shoppe to Buy on Valuation, Secular Growth Outlook
Goldman Sachs upgraded Vitamin Shoppe (NYSE: VSI) from Neutral to Buy and raised the price target to $65.00.
Goldman Sachs noted, "Like many growth names in our coverage, VSI has experienced multiple compression of late. We still like the supplement sector's secular growth. Moreover, we like VSI's incremental pursuit of own-brand product and international expansion, which we think brings it marginally closer to GNC's more lucrative operating model. VSI now trades near longrun relative P/E troughs, presenting us with an opportunity to buy into growth at a relative discount."
Vitamin Shoppe closed at $50.62 on Monday.
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