Morgan Stanley analyst Nathan Feather maintains $Chewy (CHWY.US)$ with a buy rating, and adjusts the target price from $33 to $36.
According to TipRanks data, the analyst has a success rate of 100.0% and a total average return of 32.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Chewy (CHWY.US)$'s main analysts recently are as follows:
There are indications of emerging positive trends in pet ownership, which are expected to enhance the trajectory of new additions. This could be reflected in the firm's forthcoming earnings, demonstrating sustained momentum across the business. Nonetheless, amidst heightened expectations, a comprehensive performance surpassing forecasts might be necessary for effective tactical positioning.
Industry data has not yet indicated a rising trend in pet household formation, suggesting a more balanced situation than currently reflected by the market. Moreover, measured sales indicate a significant revenue acceleration in the third quarter, with Chewy's revenue trending towards the upper range of its guidance.
The firm remains optimistic about Chewy's upcoming quarterly performance, holding a stable outlook on 3Q sales expectations. They anticipate normal sequential margin seasonality to potentially lead to higher adj-EBITDA forecasts. Additionally, they expect management to maintain a careful approach to future guidance, likely aligning with current Street estimates for 4Q.
Note:
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