Analysts Boosts Chewy's Price Forecast But Say Valuation Is Bit Stretched
Portfolio Pulse from Vandana Singh
Chewy Inc. (NYSE:CHWY) reported better-than-expected Q2 2024 results, with sales of $2.86 billion and an adjusted EPS of $0.24. Analysts have raised the price target to $32, though they note the valuation is stretched. The stock rose 1.71% to $29.21.
August 29, 2024 | 5:29 pm
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Chewy Inc. reported strong Q2 2024 results, with sales and EPS exceeding expectations. Analysts raised the price target to $32, but caution that the valuation may be stretched. The stock rose 1.71% following the news.
Chewy's better-than-expected earnings and sales figures have led to an increase in the stock price and a raised price target from analysts. However, the valuation is considered stretched, which may limit further upside in the short term.
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