Needham & Company Maintains a 'Buy' on PetSmart (PETM); Raising PT and Estimates as EPS And SSS Beat Expectations
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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
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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Needham & Company maintains a 'Buy' on PetSmart (NASDAQ: PETM) price target raised from $64 to $68.
Analyst, Sean McGowan, said, "PETM reported 1Q results that were better than expected. Sales were up 9.4% YoY to $1.63B versus our estimate, which was in line with consensus of $1.60B. SSS increased 7.4% in 1Q, which was above consensus of 4.8% and our estimate of 4.2%, and benefitted from a 3.3% increase in comparable transactions...We raise our EPS estimates as follows: 2012 is now $3.35, up from $3.15; 2013 is now $3.75 up from $3.65, and
2014 is now $4.40 up from $4.30
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.
Analyst, Sean McGowan, said, "PETM reported 1Q results that were better than expected. Sales were up 9.4% YoY to $1.63B versus our estimate, which was in line with consensus of $1.60B. SSS increased 7.4% in 1Q, which was above consensus of 4.8% and our estimate of 4.2%, and benefitted from a 3.3% increase in comparable transactions...We raise our EPS estimates as follows: 2012 is now $3.35, up from $3.15; 2013 is now $3.75 up from $3.65, and
2014 is now $4.40 up from $4.30
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.
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