Analyst Andrew Wade from Jefferies maintained a Buy rating on Pets at Home and keeping the price target at p330.00.
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Andrew Wade has given his Buy rating due to a combination of factors despite the recent challenges faced by Pets at Home. The company has experienced a reduction in its profit guidance for FY26, primarily due to a slower-than-expected recovery in its Retail segment, with store sales declining by 5% year-to-date. However, the Veterinary group has continued to perform well, showing high single-digit sales growth, which provides a positive counterbalance to the Retail segment’s underperformance.
Despite the disappointing update and the departure of CEO Lyssa McGowan, Wade sees potential for recovery and improvement. The focus is now on strategic measures that could be implemented to regain market share and address profit declines. These measures may include adjustments in pricing, product offerings, and range, which could help stabilize and potentially enhance the company’s financial performance in the future.
In another report released on September 11, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a p253.00 price target.