In a report released today, Bill Kerr from TD Cowen reiterated a Buy rating on Chewy (CHWY – Research Report), with a price target of $45.00.
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Bill Kerr has given his Buy rating due to a combination of factors that highlight Chewy’s positive growth trajectory and market position. The latest survey data reveals an increase in Chewy purchasers for the fourth consecutive quarter, signaling a growing customer base and strong consumer engagement. This trend is further supported by encouraging pet ownership dynamics and the continued popularity of Chewy’s Autoship service, indicating a robust demand for their products.
In response to these positive developments, Kerr has adjusted the long-term estimates upward and updated the discounted cash flow model to extend forecasts through 2034. As a result, the price target for Chewy’s stock has been raised from $39 to $45. These factors collectively support the decision to maintain a Buy rating, reflecting an optimistic outlook for Chewy’s future performance.
According to TipRanks, Kerr is ranked #5783 out of 9369 analysts.
In another report released on February 5, Mizuho Securities also maintained a Buy rating on the stock with a $42.00 price target.