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PetSmart sale unlikely in near-term, says Oppenheimer

Following Jana Partners' disclosure of a 9.9% stake in PetSmart and its indication that it will pursue talks with the company about exploring its options, including a potential sale, Oppenheimer said it views a sale of the company as unlikely in the near-term, adding it does not expect a "quick fix" for the company. Oppenheimer maintains its Perform rating on the stock.