Why Chewy Stock Rallied Friday Morning
Shares of Chewy (NYSE: CHWY) rallied on Friday, surging as much as 8.1%. As of 2:48 p.m. EST, the stock was still up 4.6%.
While the rebounding market no doubt helped fuel the climb, the pet-centric e-commerce platform was the recipient of some particularly bullish commentary by a pair of Wall Street analysts.
First up was Needham analyst Anna Andreeva, who named Chewy her top pick for 2023. The analyst cited a meeting with management as boosting her already bullish opinion of the stock. Andreeva was particularly optimistic concerning management's expectations regarding customer additions and lapping the tough comps represented by its 2020 and 2021 cohorts.
Source Fool.com
