Auto Trader Group: Berenberg upgrades to hold with a target price of 365p.
Morgan Stanley upgraded Pets at Home to 'equal-weight' from 'underweight' on Friday following significant recent share price underperformance, but Berenberg cut the stock to 'buy' from 'hold'
Pets at Home posted a 12% drop in underlying pre-tax profit on Tuesday as it lowered prices, but revenues were up and the company hailed a "bright future".
Pets at Home Group has confirmed that Peter Pritchard has taken up his position as group chief executive officer, with effect from Friday morning.
Retailers were among the big movers in London on Friday as Citi adjusted its ratings on several stocks as part of a broader note on European general retail.
US private equity firm KKR has sold its remaining stake in Pets at Home.
Pets at Home reported a rise in third-quarter sales on Tuesday as it said final guidance was unchanged.
Pets at Home Group announced on Tuesday that group chief executive officer Ian Kellett has informed the board of his desire to step away from corporate life, and pursue his own personal business interests.
Pets at Home Group said its merchandise repositioning was on track in its first half results on Tuesday, along with improved sales momentum, as its group like-for-like revenue growth improved to 3.9% from 2.5% in the first half of last year.
Shares in Pets at Home tanked on Tuesday after private equity firm Kohlberg Kravis Roberts & Co sold 61 million shares in the company, equivalent to a stake of around 12.2%.
The FTSE 250 index was on the front foot on Friday, led by retailer Pets at Home and a group of oil-related companies.
Analysts at Liberum added Provident Financial (target price: 487p) , Pets at Home (target price: 145p), Anglo American and Domino's Pizza to their ten-strong list of 'Conviction Sells'.
Greggs: Berenberg upgrades to Buy with a target price of 1020p.
First-quarter numbers from Pets at Home showed encouraging improvements as the retailer's management took action after a disappointing previous period.
BT Group: Exane BNP Paribas downgrades to Underperform with a target price of 260p.
Pets at Home posted a jump in sales for the year to 30 March, helped in part by a solid contribution from its vet practices and new openings.
Poor results sent shares in BT and Mondi straight to the bottom of the pile, weighing on fixed line telecoms and Forestry&Paper.
With the retail sector now at a major strategic crossroads, investors should back companies that are best prepared for a world where data will be the new frontier, said Liberum, picking out several 'key long-term winners' including Asos, Joules and Ted Baker.
Pets at Home's finance chief purchased two tranches of shares in the company he helps to manage.
Whitbread: Barclays upgrades to Equal Weight with target price of 4150p.