Petco price target lowered to $5 from $6 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Petco (WOOF) to $5 from $6 and keeps an Equal Weight rating on the shares. In the hardline, broadline and food retail space, the analyst’s preferred stocks for 2025 are companies leveraging their scale to invest in next-generation retail tech that have revenue upside, are market share leaders within their sub segments, or are executing into a cyclical inflection in their category, the analyst tells investors in a 2025 outlook note for the group.