Morgan Stanley Remains Sidelined on GNC Holdings (GNC) - PT to $26
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Rating Summary:
5 Buy, 7 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Morgan Stanley maintained an Equalweight rating on GNC Corp. (NYSE: GNC), and cut the price target to $26.00 (from $28.00), as the company trades down 17% YTD. Morgan Stanley believes that GNC will struggle to grow its top-line due to a lack of product innovation, ongoing channel proliferation, weak distribution controls, and dependency on promotions.
Analyst Simeon Gutman commented, "GNC is down 17% YTD and business prospects seem dim. A strategic & financial review is underway - we see most upside from full refranchising or a potential merger with VSI, though probability of either seems low. Lower PT to $26."
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 $25.93 yesterday.
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