Nomura Securities Raises PT and Estimates on PetSmart (PETM) After Good Q1

May 23, 2012 9:13 AM EDT
Get Alerts PETM Hot Sheet
Price: $82.98 --0%

Rating Summary:
    2 Buy, 18 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
Trade PETM Now!
Join SI Premium – FREE
Nomura Securities maintains a 'Buy' on PetSmart (NASDAQ: PETM) price target raised from $67 to $70.

Analyst, Aram Rubinson, said, "Q1:12 results at PETM had a different feel than Q4:11. Q1 EPS of $0.85 were well ahead of the Street’s $0.73. Results were driven by outperformance straight down the P&L. We were pleased to see a further acceleration in PETM sales. Comps improved on a 1-year (+7.4% from +5.5%) and a 2-year (+12.4% from +11.8%) basis. F12E EPS goes from $3.30 to $3.50 (8% ahead of guidance), F13E goes from $3.82 to $3.90, and we introduce F14E of $4.60."

For an analyst ratings summary and ratings history on PetSmart click here. For more ratings news on PetSmart click here.

Shares of PetSmart closed at $55.62 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities


Add Your Comment