Jefferies Adjusts Price Target and Estimates on PetSmart (PETM); Lets Be Smart About This

Jefferies maintains a 'Hold' on PetSmart (NASDAQ: PETM) price target of $71.00 (from $64.00).

Analyst, Daniel Binder, said, "Stock should move higher on strong EPS driven by better sales in 2Q. Although we had one of the higher estimates on the Street, PetSmart exceeded our expectations as it achieved better sales growth and occupancy leverage."

Q3 EPS estimate lowered from $0.67 to $0.61; FY13 raised from $3.27 to $3.37 and FY14 from $3.57 to $3.74.

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 $67.44 yesterday.

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