Deutsche Bank Upgrades GNC Corp. (GNC) to Buy

April 2, 2013 7:59 AM EDT Send to a Friend
Get Alerts GNC Hot Sheet
Price: $39.47 -1.05%

Rating Summary:
    8 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Deutsche Bank upgraded GNC Corp. (NYSE: GNC) from Hold to Buy with a price target of $50.00 (from $44.00) saying risk/reward is skewed favorably to the upside.

The analyst comments: "Despite near-term headwinds, including tough YOY compares in 1Q/2Q, we like the set-up today, with GNC trading at just 11.7x our new FY14 EPS est. Investor fears seem more than discounted into the shares, and we see the risk/reward as now skewed favorably to the upside. Solid secular demand tailwinds, company-specific initiatives driving product innovation, brand awareness, traffic, and mgmt’s track record of conservative guidance give us added confidence that GNC should meet or exceed expectations for this year and that EPS growth should remain strong in '14."

The firm raised FY13 EPS est to $2.80 from $2.78; our new FY14 EPS est. goes to $3.32 from $3.24.

For an analyst ratings summary and ratings history on GNC Corp. click here. For more ratings news on GNC Corp. click here.

Shares of GNC Corp. closed at $38.88 yesterday.


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