JPMorgan lowered the firm’s price target on Chewy (CHWY) to $45 from $47 and keeps an Overweight rating on the shares. The stock off post the Q2 report as the beat and fiscal 2025 sales guidance raise were more than offset by implied margin compression in the back half of the year, the analyst tells investors in a research note. JPMorgan views the share selloff as overdone and likes that Chewy is investing for future growth.
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