Chewy price target lowered to $45 from $48 at Citizens

Citizens lowered the firm’s price target on Chewy (CHWY) to $45 from $48 and keeps an Outperform rating on the shares. Chewy reported in-line Q4 results but delivered stronger-than-expected 2026 guidance, with revenue and EBITDA outlooks modestly above consensus and expectations for $50M+ in annualized AI-driven SG&A savings by 2027, the analyst tells investors in a research note. The company appears positioned for high-single- to low-double-digit revenue growth and continued margin expansion, leaving valuation still attractive, the firm says.