Nomura Securities Maintains a 'Buy' on PetSmart (PETM); Raising PT & Estimates Ahead of Q1
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Price: $69.06 -1.06%
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade PETM Now!
Nomura Securities maintains a 'Buy' on PetSmart (NASDAQ: PETM) price target raised from $62 to $67.
Analyst, Aram Rubinson, said, "We are adjusting our model to reflect better trends in pet adoption. Data from Pethealth, Inc. (PTZ: TSX, not covered), indicates that cat/dog adoption has accelerated from +6% in FQ4/11 to +10% in FQ1/12 to date. New pet acquisition is typically good for category mix, as new ‘parents’ stock up on higher margin goods. PETM has gone one step further and opened full-time adoption centers in certain states. Our new estimates of $3.30 and $3.82 (from $3.25 and $3.75) for F12 and F13 are 6% and 10% ahead of the Street."
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 $56.57 yesterday, with a 52 week range of $37.76-$59.36.
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Analyst, Aram Rubinson, said, "We are adjusting our model to reflect better trends in pet adoption. Data from Pethealth, Inc. (PTZ: TSX, not covered), indicates that cat/dog adoption has accelerated from +6% in FQ4/11 to +10% in FQ1/12 to date. New pet acquisition is typically good for category mix, as new ‘parents’ stock up on higher margin goods. PETM has gone one step further and opened full-time adoption centers in certain states. Our new estimates of $3.30 and $3.82 (from $3.25 and $3.75) for F12 and F13 are 6% and 10% ahead of the Street."
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 $56.57 yesterday, with a 52 week range of $37.76-$59.36.
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