Chewy Inc. (CHWY) PT Lowered to $57 at Jefferies

August 31, 2022 8:28 AM EDT
Get Alerts CHWY Hot Sheet
Price: $44.92 +1.29%

Rating Summary:
    18 Buy, 7 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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Jefferies analyst Stephanie Wissink lowered the price target on Chewy Inc. (NYSE: CHWY) to $57.00 (from $60.00) while maintaining a Buy rating following results.

The analyst commented, "Q2 results will please some, but not all. Sales +12.8% at lower-end of "low-teens" but Adj-EBITDA stunned at $83M vs. estimates ~$11M, a signal of a healthier & more durable balance between sales & profitability. FY sales guide was trimmed slightly for weaker discretionary hardgoods sales - following industry trend. FY Adj-EBITDA margin raised to flow-through portion of Q2 beat, banking for 2H as needed given the macro. Customer metrics in the zone."

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