Wedbush lowered the firm’s price target on Chewy (CHWY) to $36 from $42 and keeps an Outperform rating on the shares. The firm notes Chewy delivered healthy revenue and profitability in Q4. In the quarter, the company reported total revenue of $3.27B, above the upper end of management’s guide and in line with Street’s estimates. Additionally, Chewy’s expectation for revenue next quarter was consistent with consensus at the high end of the range.
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