PetIQ price target raised to $30 from $25 at Truist

Truist raised the firm’s price target on PetIQ to $30 from $25 and keeps a Buy rating on the shares. The analyst states that the firm’s investor meetings with the company management has left it with greater confidence that all aspects of the PetIQ business are now on solid footing. Truist also contends that the stock deserves a higher multiple as the business is poised to show its true growth potential over the coming quarters, following last week’s pet hygiene center initiative announcement.