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Credit Suisse upgrades Petco to outperform, says stock can rise 40%

Panorama of a city business district with office buildings and skyscrapers and superimposed data, charts and diagrams related to stock market, currency exchange and global finance. Blue line graphs with numbers and exchange rates, candlestick charts and financial figures fill the image with a glowing light. Sunset light.

Petco Health and Wellness Co. signage outside the Nasdaq MarketSite during the company’s initial public offering (IPO) in New York, U.S., on Thursday, Jan. 14, 2021.

Michael Nagle | Bloomberg | Getty Images

The newly public Petco is proving that there is still room for another strong brand in the pet care space, according to Credit Suisse.

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