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Needham upgrades Chewy, says shares can rally more than 40% because the pet space is defensive

CNBC LogoCNBC1 mo ago

Needham upgrades Chewy, says shares can rally more than 40% because the pet space is defensive

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Shares of Chewy have plummeted 35% this year, but the stock is due for a comeback according to Needham.

Data is a real-time snapshot *Data is delayed at least 15 minutes.

Chewy also stands to benefit from greater spending per pet, particularly among millennials.


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Category: Economy

Topics: Stocks Investing Source:tagname:CNBC US Source Retail CNBC Pro Articles Investment strategy Retail industry Pro: Street Calls Stock markets Premium Chewy Inc PRO Home Cnbc

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

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Article Type: News Report

Published On: 2022-06-27, 10:57:39

News Timezone: GMT -5:00

News Source URL: cnbc.com

Language: English

Reading Time: 2 minutes read

Article Length: 304 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 15932

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