PE-owned Petco aims at nearly $4 bln valuation in U.S. IPO

finance.yahoo.com
5 min read
fairly difficult
Private equity-owned Petco Health and Wellness Company Inc said on Monday it was aiming to raise as much as $816 million in it initial public offering (IPO),...
TipRanks

It's a new year, and a good time to choose new stock to line the portfolio. Investment banking giant Goldman Sachs has been watching the markets with an eye toward the long term – and a finger on pulse of the present. The firm is bullish following the passage of the COVID relief bill last month, seeing the direct income assistance of $600 per person – or $1200 for married couples – as a positive for consumers' disposable income in the here-and-now.And with consumer spending making up some two-thirds of the US economy, and boost to that metric is seen as good for the whole. Taking the COVID relief checks into account, Goldman Sachs' chief economist, Jan Hatzius, raised his expectations for US economic growth in 1Q21 – bumping his GDP forecast from 3% to 5%."While the income effects of the fiscal package will be very front-loaded, we expect the impact on consumer spending to be more evenly distributed throughout the year," Hatzius noted. The economist sees current conditions – with lockdowns in place, as putting something of a damper on immediate spending, but leading to pent-up demand later in the year. With that in mind, Hatzius is predicting sequential gains in Q2 and Q3, and full-year GDP growth of 5.8%, up 9% from his previous estimate.The stock analysts at Goldman are keen to follow Hatzius' lead, and they've been combing the market for stocks that are likely to gain as the markets take a long-term rising trajectory. The firm's analysts are pulling the trigger on two stocks in particular, noting that each has the potential to deliver double-digit gains in the year ahead. We ran the two through TipRanks' database to see what other Wall Street's analysts have to say about them.17 Education & Technology (YQ)The worldwide pandemic had one effect that could never have been predicted in advance: the sudden shift of schools to mass online classes. Remote office work has been around for a long time, and at the secondary and college levels, schools have had…
Reuters
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