Chewy shares are trading higher after Jefferies initiated coverage on the stock with a Buy rating and announced a $27 price target.
Portfolio Pulse from Benzinga Newsdesk
Chewy's stock (CHWY) is experiencing an uptick following an initiation of coverage by Jefferies with a Buy rating and a price target of $27.
December 19, 2023 | 4:23 pm
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Jefferies initiated coverage on Chewy with a Buy rating and a $27 price target, which has led to an increase in the stock's trading price.
Analyst ratings, especially from prominent firms like Jefferies, can significantly influence investor sentiment and stock prices. The Buy rating and the $27 price target suggest a positive outlook for Chewy, which is likely to encourage investors to buy the stock, potentially driving up its price in the short term.
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