Goldman Sachs Raises PetSmart Forecast

Goldman Sachs has today upgraded the stock for speciality pet retail firm PetSmart from Neural to Buy.

The price target for the firm has also been raised from $46 to $49.

Goldman Sachs believe the pet supply firm will exceed forecasts as it profits from increased merchandising opportunities without margin pressure for the first time in last few years.

The firm also expects growth to come from a stead rise in inflation in the high-end pet food sector.

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