Needham Maintains Buy on Chewy, Lowers Price Target to $20
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Anna Andreeva has maintained a Buy rating on Chewy (NYSE:CHWY) but reduced the price target from $45 to $20. This adjustment reflects a more conservative valuation of the company's future prospects.
December 07, 2023 | 11:13 am
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Needham's analyst has maintained a Buy rating on Chewy but has significantly lowered the price target, indicating a potential decrease in stock value but still sees upside.
The reduction in price target by Needham is a significant change that suggests a more conservative outlook on Chewy's future performance. While the Buy rating indicates a positive view on the stock, the lowered price target could lead to short-term negative sentiment among investors, potentially causing a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100