UBS Maintains a 'Buy' on PetSmart (PETM); Executing Purr-fectly
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Price: $82.98 --0%
Rating Summary:
2 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
2 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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UBS maintains a 'Buy' on PetSmart (NASDAQ: PETM) price target of $80.00 (from $77.00).
Analyst, Michael Lasser, said, "PETM reported impressive 2Q’12 results that included continued strong sales growth and margin expansion. The sales growth was driven by comp growth of 7.0% (vs. our estimate of 5.5%), which came on top of a 5% comp in 2Q’11 and reflected the continued positive comp trends PETM experienced in 1Q’12 of 7.4%...We believe that PETM’s performance can be explained by a combination of solid execution, channel shift to the specialty players and good spending trends from affluent consumers."
UBS raises FY13 EPS estimate from $3.30 to $3.38 and FY14 from $3.64 to $3.75.
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.
Analyst, Michael Lasser, said, "PETM reported impressive 2Q’12 results that included continued strong sales growth and margin expansion. The sales growth was driven by comp growth of 7.0% (vs. our estimate of 5.5%), which came on top of a 5% comp in 2Q’11 and reflected the continued positive comp trends PETM experienced in 1Q’12 of 7.4%...We believe that PETM’s performance can be explained by a combination of solid execution, channel shift to the specialty players and good spending trends from affluent consumers."
UBS raises FY13 EPS estimate from $3.30 to $3.38 and FY14 from $3.64 to $3.75.
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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