Jefferies Raises PT From $47.00 To $52.00 & 1Q EPS Estimates From $0.54 To $0.55 On PETM

In a recent report, Jefferies has rasied the price target on PetSmart PETM from $47.00 to $52.00 and the 1Q EPS estimate on the company from $0.54 to $0.55. Jefferies is expecting 1Q to be better for PetSmart. In the report, Jefferies said, "Our field research leads us to believe sales should be toward the upper end of the company's low to mid single digit comp store sales plan for 1Q. We believe the company's strong merchandising and marketing programs are allowing it to take share as it further distinguishes itself in this industry." PetSmart closed yesterday at $44.23.