Credit Suisse Sticks to Their Buy Rating for Chewy (CHWY)


Credit Suisse analyst Erin Wright maintained a Buy rating on Chewy (CHWY) on December 9 and set a price target of $29.00. The company’s shares closed last Monday at $25.50.

According to TipRanks.com, Wright is a 5-star analyst with an average return of 10.1% and a 67.0% success rate. Wright covers the Services sector, focusing on stocks such as Charles River Labs, Medpace Holdings, and Fulgent Genetics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chewy with a $33.57 average price target, implying a 39.9% upside from current levels. In a report issued on December 5, Morgan Stanley also upgraded the stock to Buy with a $30.00 price target.

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Based on Chewy’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $79 million. In comparison, last year the company had a GAAP net loss of $78.62 million.

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Chewy, Inc. operates as a web-based, pet supplies e-tailer. The company is an online source for a wide variety of pet products, supplies and prescriptions for dogs, cats, fish, birds, small pets, horses, and reptiles. It serves its customers through its retail website, www.chewy.com, and its mobile applications.

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