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Chewy price target raised to $50 from $44 at Barclays

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.

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