Questioning a 51% Chewy Stock Price Forecast: Is It Overly Optimistic?
Chewy (NYSE: CHWY) was a breakout stock during the pandemic as everyone rushed to bring home a furry companion. But more recently, the online pet-products retailer has been left in the doghouse.
Chewy stock is down 69% since its peak in early 2021, but that hasn't humbled Wall Street. Most analysts still rank the stock as a buy, and one of them believes it could jump 51% in the next year.
That's RBC Capital's Steven Shemesh, who has had a $56 price target on Chewy for nearly a year now, reiterating the rating several times.
Source Fool.com