CHWY - Chewy
- Thread starter BullyBob
- Start date
Planning on any options?
I sold the 9/6 $29.50 call against the stock for .71 ($71 on 100 shares)
Analysts Boosts Chewy's Price Forecast But Say Valuation Is Bit Stretched
JP Morgan analyst writes, “We’re encouraged that Chewy’s Active Customers returned to growth for the first time since 1QFY23, building on potential industry greenshoots seen at 1QFY.”
Though Chewy maintained its fiscal year 2024 sales guidance, JP Morgan notes that some investors expected a modest raise. The analyst is encouraged by improving Active Customer trends, meaningful Adjusted EBITDA upside, and significant capital returns.
RBC Capital Markets writes, “visibility back to +high-single-digits net sales growth remains low.”
The analyst maintains the Outperform rating and raises the price target from $24 to $32 based on ~20x revised FY 2025 adjusted EBITDA estimate ($670 million).
“Though admit that valuation is beginning to feel a bit stretched…but, bulls will latch on to continued evidence of category stabilization, improved profit flow-through and share repurchase activity. Bears will push back on valuation,” RBC Analyst writes.
Source Benzinga
Awesome day for CHWY holders! Up 5% right now!
"Goldman Sachs analyst Alexandra Steiger reaffirmed her buy recommendation on Chewy, maintaining a price target of $35 per share after discussions with company management. This target represents a solid 25% premium over the stock’s latest closing price."
"Goldman Sachs analyst Alexandra Steiger reaffirmed her buy recommendation on Chewy, maintaining a price target of $35 per share after discussions with company management. This target represents a solid 25% premium over the stock’s latest closing price."