Barclays raised the firm’s price target on Chewy (CHWY) to $44 from $40 and keeps an Overweight rating on the shares. The firm cites the “biggest quarter” for year-over-year net adds since Q2 2022, well ahead of expectations as the active customer recovery is taking hold. Barclays believes FY25 guide ahead of consensus at the high end and likely includes some conservatism, and highlights low tariff exposure. Chewy remains a highly attractive name in e-commerce, the firm argues.
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