Wedbush Remains Sidelined on Blue Buffalo Pet Products (BUFF) Following Pricing Survey

Wedbush maintained a Neutral rating and $22.00 price target on Blue Buffalo Pet Products (NASDAQ: BUFF) following a pet food pricing survey. The survey results showed a rise in prices for premium pet food products. Key premium pet food brands including Merrick, Natural Balance, and Blue Buffalo moved up ~13%, ~9%, and ~4% respectively.

Analyst Phil Terpolilli commented, "The Wedbush View: 2Q eCommerce Pet Food Pricing Survey mixed for BUFF, questions 2H16 top-line upside. Our May Pet Food Pricing Survey results uncovered rising prices for premium pet food products, including BUFF. When coupled with the lapping of major internet gains for BUFF last year, the lessaggressive discounting may cap upside potential for BUFF’s top-line heading into summer. Without a clear path to positive top and bottom-line upside surprises, we remain cautious on BUFF given a changing competitive landscape in premium pet."

For an analyst ratings summary and ratings history on Blue Buffalo click here. For more ratings news on Blue Buffalo click here.

Shares of Blue Buffalo closed at $26.20 yesterday.

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