William Blair Gives PetSmart (PETM) An Upgrade

Posted: Friday, November 20, 2009 1:08 PM EDT

PetSmart (PETM) was upgraded today by analysts at William Blair & Company and the stock is now at $25.37, down $0.49 (-1.89%) on volume of 702,544 shares traded. William Blair & Company upgraded the stock today to Outperform from Market Perform. The stock has been moving higher all week before Over the last 52 weeks the stock has ranged from a low of $14.39 last November to a high of $26.85 last month. PetSmart stock has been showing support around $25.00 and resistance in the $26.42 range. Technical indicators for the stock are neutral and S&P gives PETM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on PETM the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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