Guggenheim raised the firm’s price target on Chewy (CHWY) to $36 from $34 and keeps a Buy rating on the shares. Chewy’s Q3 operating results “broadly exceed our expectations” as active customers increased 0.8% quarter-over-quarter in “the strongest performance since 4Q 2021,” notes the analyst, who sees this “setting the stage for the likely return of positive year-over-year growth” during Q4.
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