Shore Capital starts Pets at Home with ‘buy’ rating
Shore Capital has started Pets at Home at a ‘buy’, citing stabilising retail demand after the pandemic pet-ownership boom while noting weaknesses in accessories and execution around range, pricing and availability.
The broker said Pets’ retail division has been the problem child in recent years, with demand normalising after the pandemic pet ownership boom, accessories weak, and execution issues around range, pricing and availability compounding a softer market backdrop."However, the turnaround programme now…