Wedbush Reiterates Rating and Price Target on Petsmart

Wedbush has published a research report on PetSmart PETM reiterating rating and price target on the company. In the report, Wedbush wrote, "New products rolled out since Q2:10 include Wellness brand (all-natural pet food and snacks), GNC brand (pet vitamins and supplements), Fisher-Price brand (pet toys), KONG brand (hard goods), and Simply Nourish (all-natural pet food). (see schedule on page 2) We believe momentum also continued to build for flea & tick and Martha Stewart branded goods, both of which began rolling out in 1H:10." Wedbush rated PetSmart an Outperform with a price target of $54.00. Petsmart closed Friday at $39.74.