MoffettNathanson upgraded Chewy to a Buy rating on September 25, 2025, raising its price target from $33 to $48. This positive revision reflects the analysts' belief that the online pet retailer is poised to benefit from a recovery in U.S. pet household formation.
The upgrade indicates increased confidence in Chewy's ability to capitalize on improving market trends within the pet industry. Analysts anticipate that a rebound in pet ownership will translate into stronger demand for Chewy's products and services.
This re-rating by MoffettNathanson suggests a more optimistic outlook on Chewy's long-term growth prospects and its capacity to gain market share in an evolving consumer landscape.
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