Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Here's Why Needham Is Bullish On This Pet Retailer

  • 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.
  • RelatedRead Why Needham Is Bullish On This Pet RetailerWhy 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.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.