UBS has raised its price target for Chewy Inc. to $36 from $34, maintaining a Neutral rating as the company shows strong momentum with a 112% return over the past year. Chewy's fourth-quarter earnings exceeded expectations, with revenue of $3.078 billion and a significant increase in active customers, though concerns about gross margin growth persist. Analysts remain divided, with some adjusting their outlooks positively while others express caution regarding the stock's premium valuation.
UBS analyst Michael Lasser raised Chewy Inc.'s price target from $34 to $36 while maintaining a Neutral rating, following the company's fourth-quarter results that showed strong customer growth and revenue of $3.078 billion. Despite mixed reactions regarding gross margin growth, analysts remain optimistic about Chewy's potential, with price targets ranging from $31 to $47. Other firms, including Goldman Sachs and Citi, adjusted their ratings and targets, reflecting confidence in Chewy's strategic initiatives and market position.
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