BofA raised the firm’s price target on Petco (WOOF) to $2.75 from $2.50 and keeps an Underperform rating on the shares after the company reported Q2 adjusted EBITDA ahead of BofA and Street estimates. Following the report, the firm raised its FY26 adjusted EPS view 4c to 15c and sees full-year net sales down 2.9%, in line with the company’s unchanged down low-single digit guidance. The firm sees continued same-store sales and traffic softness in the near-term as well as longer-term risk that market share erosion could continue, the analyst tells investors.
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