Morgan Stanley lowered the firm’s price target on Petco (WOOF) to $3.75 from $4.50 and keeps an Equal Weight rating on the shares. Competitive dynamics and a weak macro picture add pressure, limiting visibility on the path to a sustained topline inflection and further profitability improvements, the analyst tells investors following the company’s Q3 report.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WOOF:
- Petco price target raised to $3 from $2.75 at BofA
- Cautious Hold Rating on Petco Health Amidst Declining Sales and Uncertain Growth Prospects
- Petco Health and Wellness Faces Challenges Amid Sales Decline and Competitive Pressures, Analyst Recommends Sell
- Petco Reports Improved Profitability Amid Sales Decline
- Closing Bell Movers: Urban Outfitters rallies nearly 20% on earnings beat