CIBC Issues Positive Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its price objective increased by analysts at CIBC from C$29.00 to C$33.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 23.04% from the company’s previous close.

Other research analysts have also issued research reports about the company. Stifel Nicolaus lifted their price target on Pet Valu from C$27.50 to C$28.50 in a research report on Wednesday. Barclays cut their target price on Pet Valu from C$28.00 to C$27.00 in a research report on Wednesday, November 6th. TD Securities dropped 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. Raymond James reduced their target price on shares of Pet Valu from C$36.00 to C$34.00 in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price target on shares of Pet Valu from C$34.00 to C$35.00 in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$32.42.

Pet Valu Price Performance

Shares of PET stock remained flat at C$26.82 during mid-day trading on Wednesday. 73,226 shares of the stock traded hands, compared to its average volume of 50,865. Pet Valu has a 1 year low of C$23.32 and a 1 year high of C$32.74. The company has a 50-day simple moving average of C$25.34 and a 200 day simple moving average of C$25.52. The stock 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.