UPDATE: Imperial Capital Initiates Coverage on Vitacost.com on Favorable Entry Point

In a report published Wednesday, Imperial Capital analyst Mitchell B. Pinheiro initiated coverage on Vitacost.com (NASDAQ: VITC) with an Outperform rating and $8.00 price target.

In the report, Imperial Capital noted, “We are initiating coverage of Vitacost.com, Inc. (VITC) with an Outperform rating and one-year price target of $8 per share, about 50% above the recent share price. As the leading online retailer of vitamins, minerals, and supplements (VMHS), VITC has built a sizeable and leading health and nutrition e-commerce platform. We believe VITC is tracking to profitability and expect long-term investors will be rewarded for their patience. At 0.4x EV/Revenue, we believe the stock has approximately discounted the near-term challenges and this represents a favorable entry point into the stock.”

Vitacost.com closed on Tuesday at $5.26.