Chewy price target lowered to $43 from $44 at RBC Capital

RBC Capital analyst Steven Shemesh lowered the firm’s price target on Chewy (CHWY) to $43 from $44 and keeps an Outperform rating on the shares after its Q2 results and guidance. The pet category has remained stable and Chewy continues to gain share, but margins aren’t quite progressing as quickly as investors had hoped, the analyst tells investors in a research note.