Goldman Sachs Lifts Numbers on PetSmart (PETM) after Q4, Maintains Neutral Rating

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March 1, 2012 8:00 AM EST
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: 13 | Down: 14 | New: 11
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Goldman Sachs bumped estimate and its price target on PetSmart (NASDAQ: PETM) higher, but kept its Neutral rating following Q4 EPS of $0.91, they beat their forecast of $0.90 aided by a $0.03 addition from a lower tax rate.

FY12 EPS estimates rise by $0.08 to $3.10 and FY13 $0.02 to $3.34. They also introduce FY14 EPS of $3.75. The price target goes from $54 to $56.

Goldman said the underlying business trends remain solid, though the composition of 4Q results, impacted by promotions and idiosyncratic mix issues, was of a lower quality than prior results.

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 $55.74 yesterday.

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