Citizens JMP Reiterates Market Outperform Rating on Chewy Inc. (CHWY)

Citizens JMP analyst Andrew Boone reiterated a Market Outperform rating and $48.00 price target on Chewy Inc. (NYSE: CHWY).

The analyst commented, "We expect Chewy to report better-than-expected FY2Q26 results as new vet clinics ramp, advertising continues to grow, and the U.S. consumer appears broadly healthy. With estimates reasonable in FY2H26, we expect forward estimates to also be raised as we generally expect a strong quarter from Chewy. With Petco (WOOF, NC) currently going through a multi-stage process of improving its operations, we believe the competitive environment is favorable while pet household formation is more stable post-COVID, pharmacy and health are still early, and advertising has room to contribute materially more as it is now under Chewy’s control as we believe the company has near-term catalysts that benefit the quarter and medium-term growth. To that end, we believe EBITDA can continue to compound and reiterate our Market Outperform rating and $48 price target."

For an analyst ratings summary and ratings history on Chewy Inc. click here. For more ratings news on Chewy Inc. click here.

Shares of Chewy Inc. closed at $40.95 yesterday.

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