Wolfe Research analyst Shweta Khajuria is incrementally positive on Chewy (CHWY) following the acquisition of Modern Animal based on the potential for improved topline and margin profile. The firm views this as a strategic move to scale the Vet business with line of sight to $250M FY27 annualized revenue and synergies. Wolfe Research has an Outperform rating on Chewy with a price target of $39 on the shares.
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