Chewy price target lowered to $30 from $36 at Citi

Citi lowered the firm’s price target on Chewy to $30 from $36 and keeps a Neutral rating on the shares. The company reported mixed Q2 results, as sales and EBITDA beat the Street but the important net customer adds metric slightly missed, the analyst tells investors in a research note. The firm sees limited upside to earnings until the business can return to sustainable net customer adds growth.