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Petco price target lowered to $16 from $17 at RBC Capital

RBC Capital analyst Steven Shemesh lowered the firm’s price target on Petco to $16 from $17 but keeps an Outperform rating on the shares. The company reported a "solid" comp growth and its in-line margins resulted in a "better than feared" quarter, though its exposure to variable rate debt and uncertainty around sponsor ownership remain overhangs for the stock, the analyst tells investors in a research note.

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