UPDATE: Morgan Stanley Reiterates On Vitamin Shoppe Inc Following CEO Retirement

In a report published Thursday, Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating on

, but removed the $49.00 price target. In the report, Morgan Stanley noted, “We are surprised at the timing of VSI CEO Tony Truesdale's retirement announcement. Besides being on the younger side of CEOs in our space (52), Mr.Truesdale has been among the most active from a strategic perspective, acquiring Super Supplements, entering the Canadian market,enhancing VSI's e-Commerce platform, opening franchises in Panama, and most recently going vertical by purchasing a supplement manufacturer. We view all of these moves as positives, particularly the Nutri-Force acquisition as they point to a stronger competitive position in the future.” Vitamin Shoppe closed on Wednesday at $40.95.