DTT Buzz

JPMorgan Analyst Christopher Hoovers upgraded PetSmart (NYSE:PETM) from Neutral to Overweight, and expects the stock to rise to $29. The stock closed Tuesday at $22.21. If the stock rises to the $29 price target, that would be a 30% gain. The entire pet products industry should have 3%- 4% growth compared to other markets that are declining.

There are a few things that separate a PetSmart from other pet stores. They cater to dogs, cats, birds, fish, reptiles, and small pets. They sell a wide variety of pet food, but only higher quality; they also sells organic pet foods, a growing trend. As well as selling pet food, they offer pet hotels, doggie day camp, grooming, training, and have a veterinary services. On their website they have a pet community where you can create an online profile for your companion telling there breed, age, likes, and dislikes. They even have top friends like MySpace!!!

Megan Grant

DaytradeTeam