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Baird Maintains Chewy(CHWY.US) With Buy Rating, Raises Target Price to $40

Futu News ·  Nov 25 20:39  · Ratings

Baird analyst Justin Kleber maintains $Chewy (CHWY.US)$ with a buy rating, and adjusts the target price from $32 to $40.

According to TipRanks data, the analyst has a success rate of 59.8% and a total average return of 12.8% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Chewy (CHWY.US)$'s main analysts recently are as follows:

  • There are indications of emerging positive trends in pet ownership, which are expected to enhance the trajectory of new additions. This could be reflected in the firm's forthcoming earnings, demonstrating sustained momentum across the business. Nonetheless, amidst heightened expectations, a comprehensive performance surpassing forecasts might be necessary for effective tactical positioning.

  • Industry data has not yet indicated a rising trend in pet household formation, suggesting a more balanced situation than currently reflected by the market. Moreover, measured sales indicate a significant revenue acceleration in the third quarter, with Chewy's revenue trending towards the upper range of its guidance.

  • The firm remains optimistic about Chewy's upcoming quarterly performance, holding a stable outlook on 3Q sales expectations. They anticipate normal sequential margin seasonality to potentially lead to higher adj-EBITDA forecasts. Additionally, they expect management to maintain a careful approach to future guidance, likely aligning with current Street estimates for 4Q.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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