UPDATE: J.P. Morgan Raises Vitamin Shoppe's PT

According to a research report published this morning, J.P. Morgan has increased Vitamin Shoppe's

PT from $47 to $56. J.P. Morgan said, "After impressive top and bottom line results in 1Q, we remain optimistic on the secular tailwinds for the industry and more encouraged by VSI's efforts to drive the business. We see both GNC and VSI as an offensive and defensive investment given industry/company growth and the defensive-nature of the products that they sell (no negative comps in 2008-09). For VSI, same-store sales sequentially accelerated on a single and multi-year basis through successful execution of its strategy to offer a broad product selection, compelling value, and engaged customer experience." J.P. Morgan maintains its Overweight rating on Vitamin Shoppe, which is currently trading at $51.77.