Chewy price target raised to $44 from $42 at RBC Capital

RBC Capital raised the firm’s price target on Chewy (CHWY) to $44 from $42 and keeps an Outperform rating on the shares. The company delivered “fine” results against a very high bar, though while the firm is encouraged by Chewy’s continued share gains, its 2025 margin expansion might be a touch lower than we initially anticipated, the analyst tells investors in a research note. RBC adds it is raising its assumed EBITDA multiple to 21-times from 20-times, which reflects improved market performance over the past few months.