Nomura Securities Maintains a 'Buy' on PetSmart (PETM); Risk to eCommerce Under Siege

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

Nomura analyst, Aram Rubinson, says, "Retailers with risk to ecommerce have been under siege. Even as Amazon’s (Nasdaq: AMZN) Wag.com opens its virtual doors, we do not believe that PETM is in the same camp as ODP, BBY and others. We checked pricing on 21 key items at PetSmart and Wag.com. Wag had the lowest price on more items (10 versus 8), but the overall basket was 2% lower at PetSmart. Three of 21 items were priced identically. PETM cannot be complacent; we think AMZN is too good for that, but, for now, we do not see cause for alarm."

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

Shares of PetSmart closed at $46.08 yesterday.

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