Chewy Set For Significant Earnings Growth, BofA Says -- Market Talk

Dow Jones11-21 01:08

1208 ET - Investors should be wagging their tails in excitement at Chewy's growth prospects. The pet industry is improving, and the online retailer has an opportunity for significant earnings growth in the coming years, Bank of America analysts say in a research note. Pet adoption trends have steadily improved since the beginning of the year, they say. And pet spend, despite being down year-over-year, appears to have bottomed, setting the stage for a return to growth. Chewy additionally stands to benefit from its subscription-like model; low exposure to discretionary categories--which should also minimize China tariff exposure; and historically consistent trends in the pet category, the analysts say. BofA double upgrades Chewy to buy from underperform and raises the price target to $40 from $24. Chewy climbs 4.7% to $34.48 and is up 46% year-to-date. (connor.hart@wsj.com)

(END) Dow Jones Newswires

November 20, 2024 12:08 ET (17:08 GMT)

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Chewy additionally stands to benefit from its subscription-like model; low exposure to discretionary categories--which should also minimize China tariff exposure; and historically consistent trends in the pet category, the analysts say. BofA double upgrades Chewy to buy from underperform and raises the price target to $40 from $24. Chewy climbs 4.7% to $34.48 and is up 46% year-to-date. 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The pet industry is improving, and the online retailer has an opportunity for significant earnings growth ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CHWY","symbol_name":"Chewy, Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2485124147","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485124147","pubTimestamp":1732122480,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1208 ET - Investors should be wagging their tails in excitement at Chewy's growth prospects. The pet industry is improving, and the online retailer has an opportunity for significant earnings growth in the coming years, Bank of America analysts say in a research note. Pet adoption trends have steadily improved since the beginning of the year, they say. And pet spend, despite being down year-over-year, appears to have bottomed, setting the stage for a return to growth. Chewy additionally stands to benefit from its subscription-like model; low exposure to discretionary categories--which should also minimize China tariff exposure; and historically consistent trends in the pet category, the analysts say. BofA double upgrades Chewy to buy from underperform and raises the price target to $40 from $24. Chewy climbs 4.7% to $34.48 and is up 46% year-to-date. 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