Buyside momentum has picked up in PetIQ stock on October 6, 2023, leading to a horizontal resistanceA horizontal resistance chart pattern is a type of chart which shows how price movement follows a certain pattern when price reaches a certain level. The pattern forms a resistance... More breakout.
Truist maintained a Buy rating on PetIQ’s stock and increased the price target to $30 from $25 on October 2, 2023. The analyst claims that the company’s investor meetings with the company management have given it greater confidence that all facets of the PetIQ business are now on solid footing. Additionally, according to Truist, the stock should trade at a higher multiple given that the company is about to demonstrate its true growth potential in the ensuing quarters as a result of last week’s announcement of the pet hygiene center initiative.
PETQ stock is in a technical strong uptrend and it’s recently broken key pivot resistance.
PetIQ initiated with a Buy at Lake Street
PetIQ was given initial coverage by Lake Street on September 6, 2023, with a Buy rating and a $28 price target. According to the analyst, the company has established relationships with all major retailers and has more than 60,000 points of distribution because it is the industry-leading provider of pet health and wellness products to the retail channel. The company expects the branded segment to continue taking outsized share gains and driving improved margin and earnings growth, but it also sees the company’s wide competitive moat in its distributor business driving further volume at retailers.
PetIQ Inc is a company that operates in the pet health and wellness industry. They primarily focus on providing veterinary services and pet medications. The company offers affordable pet health solutions through their network of vet clinics, mobile clinics, and retail partners. PetIQ Inc also manufactures and distributes a wide range of pet health and wellness products, including prescription medications, over-the-counter treatments, and nutritional supplements. They aim to make pet healthcare more accessible and affordable for pet owners.
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