Chewy's Future Looks Bright: Analyst Upgrades Rating, Predicts 10% Revenue Growth Through 2027
Portfolio Pulse from Priya Nigam
Shares of Chewy Inc (NYSE:CHWY) rose in premarket trading after Goldman Sachs analyst Eric Sheridan upgraded the company's rating from Neutral to Buy and raised the price target from $42 to $50. Sheridan predicts that Chewy could generate around 10% revenue growth and steady margin expansion from 2023 to 2027, driven by a return to stable customer growth post-pandemic and various strategic initiatives.
July 17, 2023 | 2:46 pm
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POSITIVE IMPACT
Chewy's stock rose after an upgrade from Goldman Sachs, predicting 10% revenue growth and steady margin expansion from 2023 to 2027. The upgrade is based on expected stable customer growth and strategic initiatives.
The upgrade from Goldman Sachs is a positive signal for investors, indicating confidence in Chewy's future performance. The predicted 10% revenue growth and steady margin expansion from 2023 to 2027, driven by stable customer growth and strategic initiatives, are likely to boost investor sentiment and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100