BUZZ-Chewy's rises after MoffettNathanson upgrades to 'Buy'
Chewy's shares rose nearly 1% to $37.89 premarket after MoffettNathanson upgraded the stock to 'Buy' from 'Neutral', raising the price target to $48 from $33. The brokerage cites confidence in pet household recovery and Chewy's ability to meet customer addition forecasts through 2026, projecting 800,000 net customers added annually. Analysts view Chewy+ as a strategic move despite short-term margin impacts. Currently, 21 of 31 brokerages rate the stock as 'buy' or higher, with a median price target of $46. Year-to-date, CHWY stock is up about 11%.
Shares of online pet retailer Chewy’s (CHWY.N) up almost 1% to $37.89 premarket after MoffettNathanson upgrades the stock to “Buy” from “Neutral”
Brokerage raises PT to $48 from $33, citing confidence in pet household recovery and Chewy’s ability to meet or beat customer addition forecasts through full year 2026
Sees Chewy adding 800,000 net customers annually and capturing about 30% of industry gross customer additions as they overcome COVID-era headwinds - Brokerage
Analysts view Chewy+, a paid membership program, as a smart offensive strategy despite near-term margin dilution
21 of 31 brokerages rate the stock “buy” or higher and 10 “hold”; their median PT is $46 - data compiled by LSEG
Upto last close, CHWY stock up about 11% YTD
