Pet Valu (TSE:PET) Given New C$40.00 Price Target at Stifel Nicolaus

Key Points

• Pet Valu's target price has been raised from C$33.00 to C$40.00 by analysts at Stifel Nicolaus, indicating a potential upside of 10.53% from its current trading price.
• Multiple brokerages have recently upgraded Pet Valu, with a majority now holding a "buy" rating or better, reflecting positive sentiment regarding the stock's performance.
• The stock has shown significant growth, trading at C$36.19 recently, with a fifty-two week high of C$36.29, highlighting strong market interest.

Pet Valu (TSE:PET - Get Free Report) had its target price upped by stock analysts at Stifel Nicolaus from C$33.00 to C$40.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price target suggests a potential upside of 10.53% from the company's current price.

Several other brokerages have also commented on PET. Stifel Canada upgraded Pet Valu from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 10th. TD Securities upped their price target on Pet Valu from C$32.00 to C$35.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Cormark upgraded Pet Valu from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, May 7th. ATB Capital raised their target price on Pet Valu from C$39.00 to C$40.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Desjardins lifted their target price on Pet Valu from C$32.00 to C$38.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Pet Valu currently has an average rating of "Buy" and an average target price of C$40.22.

Pet Valu Stock Up 0.8%

Shares of PET traded up C$0.27 during trading hours on Wednesday, reaching C$36.19. 116,465 shares of the company traded hands, compared to its average volume of 105,302. The stock has a fifty day simple moving average of C$32.70 and a 200 day simple moving average of C$28.48. Pet Valu has a fifty-two week low of C$22.53 and a fifty-two week high of C$36.29. The stock has a market capitalization of C$2.57 billion, a PE ratio of 29.84 and a beta of 0.81.

Pet Valu Company Profile

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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