Petco price target raised to $5 from $3 at Wells Fargo

Wells Fargo raised the firm’s price target on Petco (WOOF) to $5 from $3 and keeps an Equal Weight rating on the shares. Petco’s Q3 update screens positive, but the firm is reluctant to chase with the Q4 guidance sub-Street, visibility still limited and still much to do, the analyst tells investors in a research note.