Pet supplies retailer PetSmart, Inc. ( PETM
The analyst also set a $39 price target on PETM stock, which had closed at $32.94 on Monday. Jefferies noted that the company should benefit from an uptick in discretionary spending by consumers.
PetSmart shares were mostly flat in premarket trading Tuesday.
The Bottom Line
Shares of PETM have a 1.21% dividend yield, based on last night's closing stock price of $32.94. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $35 price level. We would remain on the sidelines for now.
PetSmart, Inc. ( PETM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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