PetSmart Upgraded to “Outperform” at JMP Securities (PETM)

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Pet supply retailer PetSmart, Inc. ( PETM ) on Monday saw its shares upgraded by analysts at JMP Securities.

The firm said it boosted its rating on PETM from to "Market Perform" to "Outperform" with a $50 price target. That target implies a nearly 21% upside from the stock's Friday closing price of $41.48.

The analyst noted that PetSmart can grow its market share this year, and could benefit from inflation.

PetSmart shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of PetSmart ( PETM ) have a 1.21% dividend yield, based on Friday's closing stock price of $41.48. The stock has technical support in the $36-$38 price area. The shares are trading at all-time highs and have little overhead resistance.

PetSmart, Inc. ( PETM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: PETM

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