Barclays analyst Trevor Young raised the firm’s price target on Chewy (CHWY) to $50 from $44 and keeps an Overweight rating on the shares. The firm sees an Q1 revenue and EBITDA beat and Q2 guided ahead of estimates, with the fiscal 2025 revenue outlook unchanged on macro uncertainty. Chewy’s gross margin progression may be noisy lapping one-time items last year, but the stock has additional upside, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHWY:
- CHWY, BABA, or AMZN: Which “Strong Buy” E-Commerce Stock Has the Highest Upside Potential?
- Chewy selloff on CFO exit ‘gift for investors,’ says Mizuho
- Chewy’s Strong Market Position and Growth Prospects Amid CFO Departure and Inflation Risks
- Chewy CFO Resignation Announced Amid Strategic Growth
- Chewy announces CFO David Reeder to depart