Benzinga | Nov 15, 2021 11:27AM EST

Jefferies Downgrades Petco To Hold - Read Why

* Jefferies analyst Stephanie Wissink downgraded Petco Health And Wellness Co Inc (NASDAQ:WOOF) to Hold from Buy with an unchanged price target of $26.

* Wissink said comparable-store sales growth normalization in the quarters ahead might be underestimated by the current consensus view while reassessing her vet assumptions given challenging labor conditions.

* While she pauses for fair value, Wissink notes she still favors Petco's long-term strategy and growth opportunity.

* Price Action: WOOF shares traded higher by 0.18% at $24.78 on the last check Monday.