Chewy's Price Target Is Trimmed
Typically when a public company becomes large enough, Wall Street analysts start following the stock, saying whether they think it is a buy, sell, or hold. They can also set a price target for what they think the stock will be worth in the next 12 months. This was the case on Friday, Jan. 7 with Piper Sandler analyst Peter Keith and the online pet-supply marketplace Chewy (NYSE: CHWY).
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Keith lowered his price target for Chewy to $55 from $70, which still leaves about a 22% upside from the recent closing price of $44.86 . The analyst pointed to headwinds on both sales and expenses for the online pet retailer.
Source Fool.com
