Nomura Securities Maintains a 'Buy' on PetSmart (PETM); Update After 10-K

Nomura Securities maintains a 'Buy' on PetSmart (NASDAQ: PETM), PT $56.

Nomura analyst, Aram Rubinson, said, "After releasing its 10K last week, we have modestly changed our OCF/EBITDA assumptions as PETM now expects to receive a dividend from Banfield annually. We have also shifted the cadence of earnings through 2011 to more accurately reflect seasonality in PETM’s business. There is no change to our full-year 2011 and 2012 earnings estimates of $2.55 and $3.07, respectively."

For more ratings news on PetSmart click here and for the rating history of PetSmart click here.

Shares of PetSmart closed at $45.30 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Diana Shipping drops bid for Genco after price demands spike to $36.91
• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat