Raymond James Elevates Chewy to Outperform, Cites Valuation and Margin Recovery Potential
Raymond James raised its rating on Chewy Inc. to Outperform from Market Perform and set a $28.00 price target, pointing to attractive valuation, an expected rebound in revenue growth and margin expansion in fiscal 2026, and the potential for initial guidance to be conservative after a sizeable post-earnings decline in the stock.