- Needham analyst Anna Andreeva said she does not see any trade down in Petco Health And Wellness Company Inc (NASDAQ:WOOF) as it continues to pass through inflation successfully.
- Andreeva has a Buy rating and a $30 price target (87% upside) on the shares.
- Related: Read Why Needham Is Bullish On This Pet Retailer, Why Petco Shares Are Gaining Today
- The analyst thinks the company is becoming an omnichannel powerhouse after a digital overhaul by CEO Ron Coughlin.
- Andreeva said DoorDash Inc (NYSE:DASH) partnership for same-day delivery available across the entire store base is a big competitive advantage.
- With Petco providing a one-stop solution across consumables and services, the analyst cited the model as an advantage over digital-only players.
- Price Action: WOOF shares are trading lower by 0.25% at $16.04 on the last check Thursday.
