tiprankstipranks
Trending News
More News >

Morgan Stanley ups Chewy price target, calls pullback a buying opportunity

Morgan Stanley raised the firm’s price target on Chewy (CHWY) to $50 from $39 and keeps an Overweight rating on the shares, noting that Chewy missed elevated expectations in Q1 after a 38% rise intra-quarter in its share price. However, the firm came away more constructive given strong customer momentum leading to share gains and would treat the post-earnings weakness as a buying opportunity, the analyst tells investors.

Confident Investing Starts Here:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1