Chewy price target lowered to $46 from $52 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Chewy (CHWY) to $46 from $52 but keeps a Buy rating on the shares. The company’s Q4 total revenue came in above the high end of prior guidance as it continues to demonstrate share gains within a steady/stable pet industry end market, the analyst tells investors in a research note. The form adds, however, that in the near term it expects investors to remain focused on debates surrounding the health of the consumer/macro environment and resultant spending levels.