UK's Pets at Home rises after Peel Hunt upgrades stock to 'buy'

Pets at Home

Mon 08:29

**  Shares of pet care company Pets at Home Group  PETSP.L up 4.4% at 231.6 pence
** Peel Hunt raises PETSP to "buy" from ""hold" and raises target price to 260p from 180p
** Peel Hunt analysts says Covid-era pets aging should support growth across both divisions
** Brokerage says retail recovery, potential margin rebound, likely buybacks and double-digit EPS growth offer upside not fully reflected in valuation
** 7 of the 12 analysts covering the stock have a "buy" or higher rating, 2 have "hold" while 3 rate it at "sell" or lower; median PT is 237.5p - LSEG-compiled data
** YTD, stock has risen 16.2% 
     
     
     

 (Reporting by Tuhina in Bengaluru)
 ((Tuhina@thomsonreuters.com;))