1 Mid-Cap Growth Stock to Buy Hand Over Fist Before It Soars 107%, According to a Select Wall Street Analyst
Every so often, market expectations for a company will get way ahead of results the company can produce at a sustainable pace. And when sales growth inevitably slows down, investors are quick to sour on the stock. But that can leave those willing to take a long-term mindset with an opportunity to buy a great company going through short-term challenges.
That might be the case with (NYSE: CHWY). The company saw soaring sales amid the start of the pandemic when it benefited from the combination of soaring pet adoptions and a push toward online retail. But sales growth has come down considerably since then. Management expects sales growth of just 3% year over year for its fiscal 2023 fourth quarter.
But the long-term outlook for Chewy remains strong thanks to its Autoship business, expansion into higher margin products and services, and the growing penetration of e-commerce in the industry. That's why Morningstar analyst Sean Dunlop thinks the stock is worth $36 today, more than double the current share price as of this writing.
Source Fool.com
Chewy Inc Stock
The stock is one of the favorites of our community with 37 Buy predictions and 4 Sell predictions.
With a target price of 27 € there is a slightly positive potential of 7.4% for Chewy Inc compared to the current price of 25.14 €.
