Chewy price target raised to $32 from $25 at Guggenheim

Guggenheim analyst Steven Forbes raised the firm’s price target on Chewy to $32 from $25 and keeps a Buy rating on the shares. The company’s incremental share repurchase agreement, combined with management’s commitment to delivering a15%-plus incremental adjusted EBITDA margin support’s the firm’s free cash flow outlook, and Guggenheim continues to see potential upside to current consensus expectations, the analyst tells investors in a research note.