CIBC Forecasts Strong Price Appreciation for Pet Valu (TSE:PET) Stock

Pet Valu (TSE:PET) had its price objective boosted by investment analysts at CIBC from C$29.00 to C$33.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 23.04% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus lifted their price target on Pet Valu from C$27.50 to C$28.50 in a report on Wednesday. Royal Bank of Canada lifted their target price on Pet Valu from C$34.00 to C$35.00 in a research note on Wednesday, November 6th. Raymond James decreased their price target on shares of Pet Valu from C$36.00 to C$34.00 in a research report on Wednesday, November 6th. Barclays lowered their price target on shares of Pet Valu from C$28.00 to C$27.00 in a report on Wednesday, November 6th. Finally, TD Securities reduced their price objective on shares of Pet Valu from C$32.00 to C$30.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$32.42.

Pet Valu Stock Performance

Shares of PET stock remained flat at C$26.82 on Wednesday. The company had a trading volume of 73,226 shares, compared to its average volume of 50,865. The business has a 50 day moving average price of C$25.34 and a 200 day moving average price of C$25.52. Pet Valu has a 12-month low of C$23.32 and a 12-month high of C$32.74. The company has a market capitalization of C$1.91 billion, a P/E ratio of 22.11 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.