Jefferies Reiterates View on PetSmart Inc

Jefferies has published a research report on PetSmart Inc

. In the report, Jefferies wrote, "Q2 shows strong results as expected and management raised EPS guidance. However, back half guidance assumes decelerating traffic trends (possibly flat), decelerating comp store sales trends and slowing EPS growth rates versus the prior 4-5 quarters. Management has guided conservatively in the past, but we think this guidance could keep shares in a narrow range." Jefferies rated PetSmart a HOLD with a price target of $44.00. PetSmart closed Wednesday at $41.56.