Barclays maintains an 'Equalweight' on PetSmart (PETM); Raising Estimates

Barclays maintains an 'Equalweight' on PetSmart (NASDAQ: PETM) price target of $45.00.

Barclays analyst says, "We raised our estimates earlier today: Recall, earlier today, we raised our 3Q EPS estimate from $0.45 to $0.48, based o n a 6% comp (up from our prior 3.5%) and our 4Q EPS estimate from $0.87 to $0.92, based on a 4.5% comp (up from our prior 3%). Our 2011 EPS estimate was increased from $2.46 to $2.54 and our 2012 EPS from $2.84 to $2.92. We positively view PetSmart's strong cash flow generation and focus on enhancing shareholder value."

For more ratings news on PetSmart click here and for the rating history of PetSmart click here.

Shares of PetSmart closed at $44.86 yesterday.

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