National Bank National Bank Financial’s Vishal Shreedhar raised his Pet Valu Holdings Ltd. target to $44 from $42, reiterating a “sector perform” rating, while RBC’s Irene Nattel raised her target by $1 to $46 with an “outperform” rating. The average is $44.67.
“While we have a favourable view of Pet Valu’s business model, its outlook and the industry, we believe these positive attributes are adequately reflected in valuation. We continue to see better value elsewhere in our coverage universe. In addition, looking forward, we expect PET’s growth rates to moderate as the backdrop normalizes,” said Mr. Shreedhar.