William Blair Maintains Market Perform On PetSmart Following $8.7 Billion Buyout
In a research report sent to investors today, William Blair analyst Daniel Hofkin maintained a Market Perform rating on shares of PetSmart Inc (NASDAQ:PETM), following the news that the company has entered into a definitive agreement to be acquired by a private equity consortium led by BC Partners for a price of $83 per share in cash. No price target was provided.
Hofkin noted, “While it is theoretically possible that competing offers could surface, we view it as relatively unlikely. There is no change to our Market Perform rating or our operating EPS estimates of $4.42 in 2014 and $4.98 in 2015.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Daniel Hofkin has a total average return of 5.7% and a 73.3% success rate. Hofkin is ranked #1332 out of 3412 analysts.