ATB Capital Issues Positive Forecast for Pet Valu (TSE:PET) Stock Price

Key Points

• ATB Capital has raised its price target for Pet Valu (TSE:PET) from C$40.00 to C$41.00, indicating a potential upside of 13.29% from the current stock price.
• Pet Valu has received multiple upgrades from various analysts, with Stifel Canada and Raymond James Financial among those increasing their ratings and price targets, reflecting strong investor confidence.
• The stock currently has an average rating of "Buy" from nine analysts with an average price target of C$40.22, suggesting a bullish sentiment towards Pet Valu's future performance.

Pet Valu (TSE:PET - Get Free Report) had its price target upped by equities research analysts at ATB Capital from C$40.00 to C$41.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. ATB Capital's target price suggests a potential upside of 13.29% from the stock's current price.

PET has been the subject of several other reports. Stifel Canada raised shares of Pet Valu from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 10th. Raymond James Financial raised their target price on shares of Pet Valu from C$34.00 to C$36.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Stifel Nicolaus lifted their target price on shares of Pet Valu from C$33.00 to C$40.00 and gave the company a "buy" rating in a research report on Wednesday. Cormark raised shares of Pet Valu from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, May 7th. Finally, Desjardins lifted their price objective on shares of Pet Valu from C$32.00 to C$38.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$40.22.

Pet Valu Price Performance

Shares of PET traded up C$0.27 during midday trading on Wednesday, reaching C$36.19. The stock had a trading volume of 116,465 shares, compared to its average volume of 105,302. Pet Valu has a 1-year low of C$22.53 and a 1-year high of C$36.29. The company's fifty day simple moving average is C$32.70 and its two-hundred day simple moving average is C$28.48. The company has a market cap of C$2.57 billion, a price-to-earnings ratio of 29.84 and a beta of 0.81.

About Pet Valu

Pet Valu Holdings Ltd is engaged in providing pet-related products through its stores. Its products include Dry Food, Wet Food, Frozen raw food, Jerky Treats, and Training treats among others. The services offered by the company include Dog Wash, Adoption, Grooming, and Frozen Raw.

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