RBC Capital Maintains Outperform on Chewy, Lowers Price Target to $44
Portfolio Pulse from richadhand@benzinga.com
RBC Capital analyst Steven Shemesh has maintained an 'Outperform' rating on Chewy (NYSE:CHWY), but lowered the price target from $56 to $44.
August 31, 2023 | 12:59 pm
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NEGATIVE IMPACT
Chewy's price target has been lowered from $56 to $44 by RBC Capital, though the 'Outperform' rating is maintained.
The lowering of the price target by RBC Capital indicates a potential decrease in the stock's value. However, the maintained 'Outperform' rating suggests that the stock is still expected to perform better than others in the market. This mixed signal could lead to short-term uncertainty and potential downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100