Wedbush is out with its report today on PetSmart (NASDAQ:

), reiterating Outperform. In its report, Wedbush writes, "Reiterate OUTPERFORM as we believe PetSmart is the best-positioned specialty pet retailer with a strong management team and track record of strong execution." Wedbush maintains a $54 PT on PETM. At the time of posting, shares of PETM were trading at $41.18, down 0.91% from Wednesday's close.