Read Why Needham Is Bullish On This Pet Retailer - Petco Health and Wellness (NASDAQ:WOOF)

Needham analyst Anna Andreeva gave Petco Health And Wellness Co Inc WOOF a Buy rating with a price target of $30.00 (45% upside).
Andreeva notes Petco is becoming an omni-channel powerhouse after revamping its digital capabilities under CEO Ron Coughlin.
The analyst thinks that the company’s bundled offerings model has a significant advantage over digital-only players.
Petco has a much bigger presence than more mass-focused peers in the premium spectrum of consumables, the fastest growing sub-sector of food.
The analyst further notes the company’s cost advantage in fresh/frozen fulfillment and expanded offering should position it to capture the incremental $3 billion in expected category growth over the next few years.
Price Action: WOOF shares are trading higher by 3.03% at $20.76 on the last check Friday.