Jefferies has initiated coverage on a slew of pet-related stocks, giving a “Buy” rating to Chewy (CHWY) and PetIQ (PETQ) while less optimistic about Bark (BARK), Petco (WOOF), and Freshpet (FRPT) and assigning a "Hold" rating to the latter three. Yahoo Finance’s Seana Smith and Brad Smith take a closer look at this note and the driving factors for these businesses, including consumer spending on health-related pet care. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Jefferies has initiated coverage on a slew of pet-related stocks, giving a “Buy” rating to Chewy (CHWY) and PetIQ (PETQ) while less optimistic about Bark (BARK), Petco (WOOF), and Freshpet (FRPT) and assigning a "Hold" rating to the latter three.
Yahoo Finance’s Seana Smith and Brad Smith take a closer look at this note and the driving factors for these businesses, including consumer spending on health-related pet care.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Barrons.com
Shares of Chewy and Petco were trading higher after Jefferies recommended investors buy one pet goods stock and hold the other. Analysts led by Kaumil Gajrawala started coverage of online pet products retailer Chewy at Buy with a $27 price target and began covering pet specialty retailer Petco at Hold with a $3.11 price target. Chewy stock was up 3.3% to $22.40 in premarket trading, while Petco shares rose 1.4% to $2.93.
TipRanks
It’s safe to say now that stock investors are finishing 2023 in a pretty happy mood. We saw large gains in the markets, and even the late-summer swoon has been fully offset by November’s bullish turn, still in play six weeks later. At the start of this year, Bank of America set a year-end target for the S&P 500 at 4,600. The index has surpassed that, and BofA’s equity strategy team is predicting it will hit 5,000 by the end of next year. Commenting on the markets, Savita Subramanian, the bank’s
SmartAsset
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