Nomura Securities Maintains a 'Buy' on PetSmart (PETM); Q3 Preview
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Price: $82.98 --0%
Rating Summary:
2 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
Rating Summary:
2 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
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Nomura Securities maintains a 'Buy' on PetSmart (NASDAQ: PETM) price target of $60.00.
Nomura analyst, Aram Rubinson, said, "PetSmart will release its Q3 results on Wednesday (11/16) after the close. Consensus is now in line with our expectations ($0.48) after the Company updated guidance at its Analyst Day on October 13. As we look ahead to Q4, however, we are $0.05 ahead of consensus. While the market is in line with PETM’s full-year guidance, we believe that will prove conservative. Not only do we see upside to near-term forecasts, but also the stable growth of the category together with improving execution suggests that EPS growth of 20-25% is possible over the coming 3-5 years."
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 $48.15 yesterday.
Nomura analyst, Aram Rubinson, said, "PetSmart will release its Q3 results on Wednesday (11/16) after the close. Consensus is now in line with our expectations ($0.48) after the Company updated guidance at its Analyst Day on October 13. As we look ahead to Q4, however, we are $0.05 ahead of consensus. While the market is in line with PETM’s full-year guidance, we believe that will prove conservative. Not only do we see upside to near-term forecasts, but also the stable growth of the category together with improving execution suggests that EPS growth of 20-25% is possible over the coming 3-5 years."
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 $48.15 yesterday.
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