12:26 PM EDT, 08/07/2024 (MT Newswires) -- National Bank has lowered its one year target on Pet Valu ( PTVLF ) to $30 after the company reported second quarter earnings per share of $0.36, missing NBF at $0.33.

National Bank analyst Vishal Shreedhar notes that second quarter results underperformed -- sssg, revenue and system-wide sales were light, while EBITDA was slightly ahead. 2024 guidance was also revised down.

Still, Shreedhar holds a positive view on Pet Valu ( PTVLF ), reflecting its strong business positioning, attractive industry characteristics (notwithstanding near-term softness) and high returns on capital.

Maintain Outperform rating; price target lowered to $30 from $34.

Price: 24.81, Change: -0.51, Percent Change: -2.01