Petco initiated with a Hold, $10 target at Gordon Haskett

As previously reported, Gordon Haskett analyst Greg Sommer initiated coverage of Petco with a Hold rating and $10 price target as the firm expands its coverage on the Pet industry. Petco has made meaningful investments in recent years transforming the company into a digitally led omni-channel retailer, though the firm’s datasets "tell us some caution is warranted," says the analyst, who notes that the firm’s Q1 revenue estimate is "only slightly ahead" of the Street and its adjusted loss per share estimate is inline.