UBS Raises Price Target and Estimates on PetSmart (PETM); Sees Sustained Sales and Margin Benefit
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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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UBS maintains a 'Buy' on PetSmart (NASDAQ: PETM) price target raised from $64 to $67.
Analyst, Michael Lasser, said, "As an investor, finding those situations where a company has more control over its own destiny is a preferred situation. PetSmart fits into that bucket and its 1Q’12 reinforced that categorization. With a 7.4% comp (v. 4% UBS estimate), PETM showed that it can press levers such as introducing new products, resetting merchandise displays, and increasing its advertising spend, which combined to have a positive impact. Further, when sales trends are healthy, it leads to related benefits like better margin performance and stronger free cash flow generation."
UBS raises FY13 from $3.12 to $3.30 and FY14 from $3.43 to $3.63.
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, Michael Lasser, said, "As an investor, finding those situations where a company has more control over its own destiny is a preferred situation. PetSmart fits into that bucket and its 1Q’12 reinforced that categorization. With a 7.4% comp (v. 4% UBS estimate), PETM showed that it can press levers such as introducing new products, resetting merchandise displays, and increasing its advertising spend, which combined to have a positive impact. Further, when sales trends are healthy, it leads to related benefits like better margin performance and stronger free cash flow generation."
UBS raises FY13 from $3.12 to $3.30 and FY14 from $3.43 to $3.63.
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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