Barclays analyst Trevor Young raised the firm’s price target on Chewy to $35 from $30 and keeps an Equal Weight rating on the shares post the Q3 results. The company reported a beat across all all key line items as active customer growth turned slightly positive quarter-over-quarter and NSPAC continued healthy gains, Young tells investors in a research note.
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- Chewy says now expects FY22 capex to come in slightly below 2.5% of sales
- Chewy raises FY22 revenue view to $10.02B-$10.04B from $9.9B-$10B
- Chewy sees Q4 revenue $2.63B-$2.65B, consensus $2.64B
- Chewy reports Q3 revenue $2.53B, consensus $2.46B
- Chewy options imply 11.4% move in share price post-earnings