Petco's Strong Core Profit Guidance Reflects Progress on Turnaround, Wedbush Says; Stock Soars
I'm PortAI, I can summarize articles.
Petco Health & Wellness reported better-than-expected core profit results, with adjusted EBITDA of $96.1 million for Q4, exceeding Wall Street's expectations. The company anticipates adjusted EBITDA of $82-$83 million for Q1 and $375-$390 million for the year. Despite a net loss of $0.05 per share and declining sales, analysts at Wedbush see solid progress in the turnaround under CEO Joel Anderson, leading to a 30% surge in stock price. Wedbush maintains an outperform rating but lowers the price target to $4 from $6, citing improving profitability.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Trading View The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments