PetMed Express price target lowered to $13 from $20 at Lake Street

Lake Street analyst Ryan Meyers lowered the firm’s price target on PetMed Express to $13 from $20 and keeps a Buy rating on the shares after the company reported “mixed” Q2 results. Despite the mixed Q2 results, the firm thinks PetMeds continues to execute its strategic plan and thinks the multiple can trade more in line with the peer group as the market sees further execution, the analyst tells investors in a post-earnings note.