Chewy price target raised to $40 from $35 at Piper Sandler

Piper Sandler raised the firm’s price target on Chewy (CHWY) to $40 from $35 and keeps an Overweight rating on the shares ahead of quarterly results. With the stock up over 30% in the last month, the firm thinks buy side expects both a slight sales and margin beat. Piper is in line with the Street modeling sales up 4%, the high end of the guided range.