Chewy price target raised to $22 from $19 at Evercore ISI

Evercore ISI raised the firm’s price target on Chewy to $22 from $19 and keeps an In Line rating on the shares following what the firm describes as “a Beat & Mixed FQ1 print.” The firm would like to see clear evidence of a pet industry recovery or active customers adds turning positive and sees “limited prospect for a near-term catalyst on the stock,” the analyst added.