PetIQ: Surges after bullish conference presentation

PetIQ

16/01/2019 16:32

** Health and wellness products maker PetIQ  PETQ.O  jumping
7 pct to $29.70 on Weds and now up ~20 pct over past two
sessions following co's presentation yesterday at the ICR
Conference in Orlando, Florida
    ** PetIQ presentation
file:///C:/Users/U6024112/Downloads/PETQ%20ICR%20Conference_0115
19.pdf pointed out co aiming to double in size, targeting long
term (LT) net sales of $1 bln along with 25 pct EPS growth
    ** Jefferies reiterated PetIQ as top small-cap growth idea
post meetings with management and "bullish" presentation,
maintains $39 PT
    ** Brokerage in note said PETQ underscored its strong
momentum, confidence in LT sales/EPS growth targets and remains
comfortable with 1,000 clinic target by 2023
    ** Says key takeaway that beyond just Walmart  WMT.N , PETQ
will likely have 5-6 retail partners by end of 2019
    ** Stock breaks above both its 50-DMA ($28.18) and 200-DMA
($28.41) in today's session
    ** All 5 covering analysts recommend buying PETQ; median PT
$41 (Refinitiv data)
    ** With today's move, shares up 26 pct YTD

 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))