BUZZ-Chewy's rises after MoffettNathanson upgrades to 'Buy'
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Chewy's shares rose nearly 1% to $37.89 premarket after MoffettNathanson upgraded the stock to 'Buy' from 'Neutral', raising the price target to $48 from $33. The brokerage cites confidence in pet household recovery and Chewy's ability to meet customer addition forecasts through 2026, projecting 800,000 net customers added annually. Analysts view Chewy+ as a strategic move despite short-term margin impacts. Currently, 21 of 31 brokerages rate the stock as 'buy' or higher, with a median price target of $46. Year-to-date, CHWY stock is up about 11%.
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