Chewy price target lowered to $47 from $50 at Barclays

Barclays analyst Trevor Young lowered the firm’s price target on Chewy (CHWY) to $47 from $50 and keeps an Overweight rating on the shares post the Q2 report. The company’s revenue growth is accelerating but the fiscal year revenue outlook without an EBITDA margin raise disappointed, the analyst tells investors in a research note. The firm believes Chewy shares could be range-bound in the near-term.