PETM To Post Strong Q1 Results

Analysts at Wedbush Morgan reiterate their "outperform" rating on PetSmart PETM. The target price for PETM is set to $35. PetSmart is scheduled to report its Q1 results after the market closes on May 19. Wedbush Morgan expects PETM’s results to be on the better than the “guidance for Q1 EPS of $0.40 $0.44 on lsd comps as well as to our and consensus forecasts.” “We see a number of factors to drive the company's business in 2010, including 1) compelling new products, 2) the reset of the hard good and consumables areas, and 3) improving sales of seasonal, hard goods, and services,” the analysts say. Wedbush Morgan considers PetSmart as the “best positioned specialty pet retailer when more discretionary pet spending resumes with a recovering economy, as well as strong execution.” More Analyst Ratings here