Citi 04/02/2010 1 Buy, High Risk $8.00 35.6% Post the Investor Day, the broker notes earnings sustainability, historic capex commitments and the strategic positioning of the company's acquired malt business were the main topics.
However, with the management void post Mark Irwin's recent departure creating a bit of a hiatus for the shares, the broker thinks the appointment of a suitable replacement will be critical for improved investor sentiment.
That said, Citi still finds the valuation "compelling" at 9.5x FY11 earnings and as such retains its Buy call.
Credit Suisse 04/02/2010 1 Outperform $10.00 69.5% Following an investor presentation day the broker views the stock as having a number of growth options but with an added level of complexity given the recent acquisition of UMH.
Post the update the broker views the stock as offering good value at current levels, especially given the upside implied by its $10.00 price target.
GNC Price at posting:
$5.91 Sentiment: None Disclosure: Held
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