The firm raised the price target to $49 from $44 for the retailer of nutritional supplements and accessories.
Goldman Sachs said it raised GNC's rating as confidence in strategic turnaround efforts firms.
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"GNC is in the early stages of a strategic turnaround, with clear imperatives that should return the company to a sustainable longterm growth algorithm by 2015," said analysts at Goldman Sachs. "We expect a fast wean off promotions, driving one more quarter of SSS declines as gross margin firms, and a return to a sustainable, double-digit EPS growth algorithm in 2015."
Shares of GNC closed up 0.17% to $42.08 on Thursday.
Separately, TheStreet Ratings team rates GNC HOLDINGS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate GNC HOLDINGS INC (GNC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."