Petco Health shares gap up after guidance, Jefferies upgrade

Petco Health and Wellness

12/03/2026 16:41

** Shares of Petco Health and Wellness WOOF.O surging about 30% on Thurs and earlier hit their highest level since late November after the co provided upbeat forecasts

** Petco Health late Wed forecast Q1 adj EBITDA of $92 mln to $94 mln and full-yr adj EBITDA of $415 mln to $430 mln, above expectations, based on LSEG data

** Jefferies raised its rating on the stock to a "buy" from a "hold" and increased its PT to $5 from $4.05, with the firm's analysts saying in a note that the co is headed toward growth "with liquidity and profitability concerns now in the rear view mirror," and that the stock "underappreciates the progress made thus far and self-help improvements to come."

** WOOF shares last at $3.21; median 12-mo PT for the stock is $3.50, per LSEG

** Including the session move, WOOF stock is up about 11% YTD, vs a 4% fall for the Nasdaq .IXIC

(Reporting by Caroline Valetkevitch )

((caroline.valetkevitch@thomsonreuters.com))