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Benzinga
Benzinga
Business
Shivani Kumaresan

Read Why Needham Is Bullish On This Pet Retailer

Needham Petco Anna Andreeva WOOF Nasdaq
  • Needham analyst Anna Andreeva gave Petco Health And Wellness Co Inc (NASDAQ:WOOF) a Buy rating with a price target of $30.00 (45% upside).
  • Andreeva notes Petco is becoming an omni-channel powerhouse after revamping its digital capabilities under CEO Ron Coughlin.
  • The analyst thinks that the company’s bundled offerings model has a significant advantage over digital-only players.
  • Petco has a much bigger presence than more mass-focused peers in the premium spectrum of consumables, the fastest growing sub-sector of food.
  • The analyst further notes the company’s cost advantage in fresh/frozen fulfillment and expanded offering should position it to capture the incremental $3 billion in expected category growth over the next few years.
  • Price Action: WOOF shares are trading higher by 3.03% at $20.76 on the last check Friday.
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