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

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Jesse Pound@/in/jesse-pound@jesserpound
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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 pet care, according to Credit Suisse.