Roaring Kitty Ditched Chewy, Analyst Says You Should Adopt The Stock With ‘Path To Pawsitive Growth’
Pet care company Chewy Inc. (NYSE:CHWY) has had an eventful 2024, and an analyst thinks investors should buy the stock for more upside ahead. This news comes a month after it was revealed that Roaring Kitty (aka Keith Gill) dumped his stake in the company.
The Chewy Analyst: Bank of America analyst Curtis Nagle double upgrades Chewy shares from Underperform to Buy and raises the price target from $24 to $40.
Read Also: Pet Supply Retailer Chewy’s Q2 Earnings: Profit Edges Out Expectation, Sales Per Active Customer Hits New Record
The Analyst Takeaways: Improving industry trends and earnings potential led to an upgrade on Chewy shares by Nagle.
The analyst said Chewy’s expense discipline could lead to earnings growth that is being underestimated by investors and other analysts.
“Stabilizing industry trends lay path to pawsitive growth,” Nagle said.
Nagle said animal shelters are taking in a large number …
Full story available on Benzinga.com