Petco price target raised to $6 from $5 at RBC Capital

RBC Capital raised the firm’s price target on Petco (WOOF) to $6 from $5 and keeps an Outperform rating on the shares. The company reported another consistent quarter with sequential top-line improvement and margin efforts resulting in a 13% y/y EBITDA growth, the analyst tells investors in a research note. Petco’s consistent delivery and margin progress should help the stock close the multiple gap relative to its peers, RBC adds.