Baird analyst Justin Kleber raised the firm’s price target on Chewy to $50 from $45 and keeps an Outperform rating on the shares. The analyst said they delivered better than expected results and its top line should remain relatively resilient in the face of macro pressures. He said when combined with solid progress on profitability the raised 2022 adjusted-EBITDA guidance still seemingly leaves room for upside.
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Published first on TheFly
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Read More on CHWY:
- 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