Citi 22/01/2010 1 Buy, High Risk $8.00 33.1% CEO Mark Irwin has resigned and the board has kicked-off an international search for a replacement. Along with the resignation, the company did reaffirm its FY10 earnings guidance.
While Citi finds the news "unsettling", it thinks the unchanged guidance at least suggests the resignation is not business performance related.
That leaves Citi thinking that the current depressed share price still provides a good buying opportunity for investors, so the Buy call is maintained.
Credit Suisse 22/01/2010 1 Outperform $10.00 66.4% Group CEO Mark Irwin has resigned but the move doesn't change the broker's positive view on the investment merits of the group.
With no change to its $10.00 price target the broker retains its Outperform rating on the stock.
GNC Price at posting:
$5.92 Sentiment: None Disclosure: Held
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