Chewy price target lowered to $37 from $40 at Citi

Citi lowered the firm’s price target on Chewy (CHWY) to $37 from $40 and keeps a Buy rating on the shares. Citi adjusted targets in broadlines and hardlines retailing as part of a Q1 preview. While the consumer has remained “resilient,” concerns are higher around weakness going forward, the analyst tells investors in a research note. The firm sees mostly in-line to slightly above the Street estimate Q1 reports.