Analyst Andrew Wade of Jefferies maintained a Buy rating on Pets at Home, reducing the price target to p330.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Andrew Wade has given his Buy rating due to a combination of factors, despite the current challenges in the market. The company’s Q1 Retail Like-for-Like (LFL) sales showed a decline of 3%, which is an improvement from the previous quarter’s 5.5% drop. This indicates a positive trend, even though the overall market has been weaker than expected.
Wade acknowledges the need for Pets at Home to increase its retail market share in the second half of the year. However, he points out the strong performance of the Vet Group as a significant positive factor. While the FY26 Retail LFL assumption has been adjusted from 2% to 1%, and the pre-tax profit estimate has been reduced by 5%, the improved exit rate and the Vet Group’s growth contribute to the Buy rating.
Wade covers the Consumer Cyclical sector, focusing on stocks such as Greggs plc, B&M European Value Retail SA, and Pets at Home. According to TipRanks, Wade has an average return of 4.5% and a 54.59% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a p278.00 price target.