Chewy price target raised to $38 from $37 at JPMorgan

JPMorgan raised the firm’s price target on Chewy (CHWY) to $38 from $37 and keeps an Overweight rating on the shares. The firm come away from Chewy’s Q3 earnings “incrementally positive” and believes the company’s product enhancements and solid execution, along with improving industry trends, are driving better active customer growth and a meaningful profitability ramp.