UPDATE: Deutsch Bank Initiates Deutsche Bank Initiates GNC Holdings at Buy

Deutsche Bank has initiated coverage on GNC Holdings

with a Buy rating and $36 price target in a research report out today. In the report, Deutsch Bank writes, "We are initiating coverage on GNC with a Buy Rating and a $36 PT, which implies ~25%+ upside. Importantly, based on (1) our field work, (2) recent conversations with industry contacts, and (3) our VSI HQ trip on 12/19, we believe trends in the VMS space remain very healthy despite recent headline noise." Shares of GNC are trading at $28.93, up 1.83% from yesterday's close.