UPDATE: Credit Suisse Upgrades GNC

In a note released Monday morning, Credit Suisse upgraded shares of GNC GNC from Neutral to Outperform with a $43 price target.

The upgrade reflects three main factors, 1) the team at Credit Suisse is a fan of Mr. Archbold, who has both a record of success and experience in the space, 2) The market has "over penalized" GNC. The team believes that with some "tinkering" to certain fundamentals, the company's recent quarterly misses could be a different story and 3) The team is "intrigued" by a potential combination of GNC and Vitamin Shoppe, given the high degree of overlap and Archbold's knowledge of Vitamin Shoppe's strengths.