UPDATE: Morgan Stanley Reiterates On PetSmart On Multiple Catalysts Ahead

In a report published Wednesday, Morgan Stanley analyst Simeon Gutman reiterated an Equal-Weight rating on

, but removed the $71.00 price target. In the report, Morgan Stanley noted, “Modestly better earnings, maintained guidance, performance enhancement plans and the exploration of strategic alternatives should lift the stock tomorrow and keep a floor underneath it in the near term.” PetSmart closed on Tuesday at $69.70.