Mizuho Reiterates Outperform Rating on Chewy Inc. (CHWY)

Mizuho analyst David Bellinger reiterated an Outperform rating and $50.00 price target on Chewy Inc. (NYSE: CHWY).

The analyst commented: "Chewy (CHWY) is flattish this morning following a ~$500M block sale reported by Bloomberg. This compares with the 2-3% share discount indicated last night after the close. In our view, today's transaction skews as another positive in drawing incremental long-only interest for CHWY shares. Our extensive analysis looking at other private equity drawdowns - and the subsequent notch higher in share ownership by long-only-type investors - highlights several examples where shares materially outperformed the S&P 500 over an extended timeframe. We remain positive on the outlook for CHWY and upside coming from new initiatives. We revise 2H25E estimates to better reflect $20-25M of investment spend primarily impacting gross margins. Reiterate $50 PT."

For an analyst ratings summary and ratings history on Chewy Inc. click here. For more ratings news on Chewy Inc. click here.

Shares of Chewy Inc. closed at $39.03 yesterday.

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