Chewy price target raised to $34 from $29 at Evercore ISI

Evercore ISI raised the firm’s price target on Chewy (CHWY) to $34 from $29 and keeps an In Line rating on the shares in the wake of what the firm called “Beat & Mixed FQ3 EPS results.” Profitability trends continue to improve nicely, but the firm believes sustained levels of customer and revenue growth would be required for “material share price appreciation from here,” the analyst tells investors.