Jefferies Sees PerSmart (PETM) Posting In-Line to Better Q1 Earnings
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Price: $51.88 +0.74%
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies is reiterating its Buy rating on shares of PetSmart (NASDAQ: PETM) and is raising its price target from from $47 to $52.
The firm's field research has lead it to believe sales should be toward the upper end of PETM's low to mid single digit comp store sales plan for Q1. As a result the firm is raising its Q1:12, FY12, and FY13 EPS estimates by $0.01 to $0.55, $2.32 and $2.65; which is based on a projected 5% comp store sales gain.
Jefferies notes that the recent inflation in human food prices provides potential for a spike in animal food prices as they have shown a direct relationship in the past.
For more ratings news on PetSmart click here and for the rating history of PetSmart click here.
Shares of PetSmart closed at $44.23 yesterday.
The firm's field research has lead it to believe sales should be toward the upper end of PETM's low to mid single digit comp store sales plan for Q1. As a result the firm is raising its Q1:12, FY12, and FY13 EPS estimates by $0.01 to $0.55, $2.32 and $2.65; which is based on a projected 5% comp store sales gain.
Jefferies notes that the recent inflation in human food prices provides potential for a spike in animal food prices as they have shown a direct relationship in the past.
For more ratings news on PetSmart click here and for the rating history of PetSmart click here.
Shares of PetSmart closed at $44.23 yesterday.
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