UPDATE: Jefferies Reiterates Hold Rating, Lowers PT on VCA Antech

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on VCA Antech

, but lowered its price target from $26.00 to $24.00. Jefferies noted, “While we are encouraged by WOOF's positive organic revenue performance in the last few quarters, we are maintaining a neutral stance on the name given our concerns that re-emerging macroeconomic volatility will drive increased pressure on consumer discretionary names such as WOOF. Additionally, we believe that persistently high unemployment levels and declining consumer confidence and spending will impact WOOF's volumes in 2H12.” VCA Antech closed on Tuesday at $20.54.