UPDATE: Bank of America Merrill Lynch Lowers PO on VCA Antech to $27

Bank of America Merrill Lynch is out with its report today on VCA Antech WOOF, lowering its PT from $28 to $27. In a note to clients, Bank of America Merrill Lynch writes, "WOOF's 2Q11 EPS ($0.45) beat our $0.44 estimate on stronger profitability that offset nominally weaker revenues. While we are encouraged by the latest profit trends, we are lowering our 2011 EPS estimate to $1.35 (from $1.40) on concerns over its ability to sustain profitability while growth rates remain low. Our P.O. moves to $27 (from $28)." Shares of WOOF closed Thursday at $19.89, down 1.00% from Wednesday's close.