The Globe and Mail reports in its Wednesday, May 24, edition that Eight Capital analyst Ty Collin rates Pet Valu Holdings "buy" in new coverage. The Globe's David Leeder writes that Mr. Collin set a share target of $47. Analysts on average target the shares at $44.14. Mr. Collin thinks a recent decline in Pet Valu's share price presents a "long-term profitable growth story with valuation upside." Mr. Collin says in a note: "PET reminds us of Dollarama coming out of its IPO, with plans to grow its store footprint by 60 per cent. ... The company is focusing on rural markets, which it is uniquely positioned to serve, and can leverage its strong franchise model to grow rapidly with minimal capital investment. The Canadian pet industry has grown at a long-term CAGR [compound annual growth rate] of 6 per cent and is expected to grow at 5 to 7 per cent through 2027, with long-term tailwinds that should continue to drive strong same-store sales growth. Other internal initiatives, including an ongoing supply chain transformation and higher private label penetration, could potentially add $30-million-plus of EBITDA over the medium term. All told, we believe PET can sustainably deliver low-double-digit EPS growth."