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Goldman Sachs' upgrandes GNC (NYSE: GNC) from "Neutral" to "Buy" and Increases Price Target to $49 from $44.
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These are Goldman Sachs' Notes:
- GNC’s new CEO Mike Archbold possesses a track record of gross margin and SG&A discipline from stints at prior employers that suggest he can execute against these imperatives.
- Inventory growth has outpaced sales growth in all but two quarters since 2012. GNC will begin
- to correct this issue with production cuts beginning in 4Q14, as it tolerates downtime in its manufacturing facilities but
- cleans up its supply chain in the process.
- We believe there is valuation upside for a strong brand managed to a consistent growth algorithm.
- Growing international franchise footprint.
- Relative to mature retailers with similar sales and EPS growth profiles, GNC’s valuation screens attractively.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.