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

Needham analyst Anna Andreeva said she does not see any trade down in Petco Health And Wellness Company Inc WOOF as it continues to pass through inflation successfully.
Andreeva has a Buy rating and a $30 price target (87% upside) on the shares.
Related: Read Why Needham Is Bullish On This Pet Retailer, Why Petco Shares Are Gaining Today
The analyst thinks the company is becoming an omnichannel powerhouse after a digital overhaul by CEO Ron Coughlin.
Andreeva said DoorDash Inc DASH partnership for same-day delivery available across the entire store base is a big competitive advantage.
With Petco providing a one-stop solution across consumables and services, the analyst cited the model as an advantage over digital-only players.
Price Action: WOOF shares are trading lower by 0.25% at $16.04 on the last check Thursday.