Why Chewy Stock Was Slipping Today
Shares of Chewy (NYSE: CHWY) are being sent to the doghouse today, pulling back after Oppenheimer downgraded the stock this morning and Walmart opened up its first pet services center.
As a result, the stock was down 4% as of 12:06 p.m. ET.
First, Oppenheimer analyst Rupesh Parikh lowered his rating on the stock to perform from outperform, saying he sees the challenging backdrop facing the company persisting for at least a few quarters. The pet products sector has struggled following the pet spending boom during the pandemic, with growth slowing significantly since then.
Source Fool.com
Chewy Inc Stock
€19.96
1.860%
With 50 Buy predictions and not a single Sell prediction Chewy Inc is an absolute favorite of our community.
As a result the target price of 36 € shows a very positive potential of 80.36% compared to the current price of 19.96 € for Chewy Inc.
