Deutsche Bank Cuts PT on PetSmart (PETM), Notes Slowing Comps

March 7, 2013 10:41 AM EST
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Price: $82.98 --0%

Rating Summary:
    2 Buy, 18 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Deutsche Bank today maintained a Hold rating on PetSmart (NASDAQ: PETM) and lowered its price target to $64.00 (from $69.00).

"PETM's comps of 4.6% this quarter is undoubtedly very strong and would be the envy of many retailers. But, it is down from 210 bps last quarter and in fact the lowest growth since 1Q10," noted analysts.

This slowdown could lead to compression given the stock's premium multiple, added DB.

For an analyst ratings summary and ratings history on PetSmart (NASDAQ: PETM) click here. For more ratings news on PetSmart click here.

Shares of PetSmart closed at $66.55 yesterday.

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