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Petco price target raised to $3.70 from $3.25 at UBS

UBS analyst Michael Lasser raised the firm’s price target on Petco (WOOF) to $3.70 from $3.25 and keeps a Neutral rating on the shares. The company’s Q2 report showed ongoing margin improvement, which brought some optimism to the stock, the analyst tells investors in a research note. However, UBS believes Petco needs an improved market share trajectory to drive the shares higher.

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