Chewy price target lowered to $27 from $33 at Deutsche Bank

Deutsche Bank analyst Lee Horowitz lowered the firm’s price target on Chewy (CHWY) to $27 from $33 and keeps a Hold rating on the shares. While ultimate earnings cuts for Chewy are likely more benign than Amazon and Wayfair, given a generally resilient category and U.S. supply chain for the vast majority of its consumables business, the downside earnings risk from tariffs and slower category growth is properly reflected in shares at this point, the analyst tells investors in a research note.