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Chewy Stock Rises on Dual Analyst Upgrades Amid Market Gains
Chewy Stock Rises on Dual Analyst Upgrades Amid Market Gains
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BTCCSquare news:
Chewy (CHWY) shares climbed nearly 3% Thursday, outpacing the broader market's modest 0.9% rise, after receiving back-to-back analyst upgrades. Seaport Global's Aaron Kessler initiated the rally with a buy rating and $47 price target, citing strong Q2 revenue growth of 9% and robust gross margins despite market concerns over rising operational costs.
The e-commerce pet retailer's strategic investments in growth initiatives drew particular praise. "These aren't reckless expenditures," Kessler noted, "but calculated bets to strengthen market position." The bullish sentiment was echoed later by another analyst who raised Chewy's target to $45, reinforcing confidence in the company's fundamentals.
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