Piper Jaffray Raises PT on Vitamin Shoppe to $36 (VSI)

Piper Jaffray is out with its report today on Vitamin Shoppe (NYSE: VSI), raising its price target from $34 to $36.

In a note to clients, Piper Jaffray writes, "We are raising our F11 EPS estimates and 12-month PT on VSI following another strong quarter of comp and GM rate performance. Our 12-month PT increases from $34 to $36, applying the same 25x multiple to our increased F11 EPS estimate. We continue to view VSI as a market share gainer in an industry growing in the mid-single digit range. Reiterate Overweight."

Shares of VSI closed Wednesday at $33.65.