Barclays Upgrades Chewy to Overweight, Raises Price Target to $30
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Trevor Young has upgraded Chewy (NYSE:CHWY) from Equal-Weight to Overweight and increased the price target from $19 to $30, indicating a more bullish outlook on the company's stock.
January 11, 2024 | 11:47 am
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Chewy's stock rating has been upgraded by Barclays from Equal-Weight to Overweight, with the price target raised from $19 to $30, suggesting a positive outlook for the stock.
An upgrade in stock rating by a major financial institution like Barclays typically signals increased confidence in a company's future performance and can lead to a positive short-term price movement as investors react to the news. The substantial increase in the price target further emphasizes the bullish stance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100