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Fly News Breaks for December 10, 2019
CHWY
Dec 10, 2019 | 09:16 EDT
RBC Capital analyst Mark Mahaney nudged his price target on Chewy to $38 from $37 after its better than expected Q3 results. The analyst notes that the fundamentals on the company were neutral however, with modest deceleration in revenue against "solid" expansion in gross margins. Mahaney also keeps his Sector Perform rating on the stock but states that he would be "more constructive" if Chewy's newer initiatives become "more material" and as the company laps the December 11th lockup expiration.
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