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Evercore Analyst Reiterates Bullish Stance on Chewy (CHWY) Amid Pet Industry Stabilization
Evercore Analyst Reiterates Bullish Stance on Chewy (CHWY) Amid Pet Industry Stabilization
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Chewy Inc. (CHWY) shares have surged approximately 30% over the past six months as the U.S. pet industry shows signs of recovery after a prolonged slump. Evercore ISI's top-ranked analyst Mark Mahaney maintains an Outperform rating and $52 price target, citing the company's resilient Autoship model—which drives 80% of sales through recurring subscriptions—and strong customer satisfaction metrics.
Industry checks and consumer surveys point to stabilizing demand, with cyclical recovery and e-commerce adoption fueling Chewy's long-term growth trajectory. Mahaney, ranked #335 among 10,000 analysts tracked by TipRanks, highlights the company's ability to weather soft consumer spending periods due to its subscription-based economic moat.
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