Jefferies Raises Price Target on VCA Antech (WOOF) Following H/C Conference

Jefferies maintains a Hold rating on VCA Antech (NASDAQ: WOOF), and raised the price target to $55.00 (from $51.00), following a conference two weeks ago. Analyst Brian Tanquilut believes, based on management comments, that company fundamentals are solid.

Tanquilut commented, "WOOF management said they're "Happy," which leads us to believe that company fundamentals are solid. At our H/C conference two weeks ago, WOOF mgmt. played a video of Pharrell Williams' Happy, and when asked about why they played the song at a conference, CEO Bob Antin (whom we had the pleasure of meeting in person for the first time since he rarely attends investor conferences) noted that they wanted to express how happy they are with the business. While we knew that the improving economy and consumer confidence levels were driving improved veterinary volumes (and mgmt. cited that their Vetsreet business shows that even non-VCA vets are doing well), we are admittedly surprised at the high level of bullishness that this typically conservative mgmt. team was willing to express, which leads us to believe that volumes are trending solidly."

For an analyst ratings summary and ratings history on VCA Antech click here. For more ratings news on VCA Antech click here.

Shares of VCA Antech closed at $51.66 yesterday.

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