Why Chewy Stock Topped the Market Today

While faint praise of a stock from a market professional usually doesn't move that title's price, the dynamic was different for Chewy (NYSE: CHWY) on Tuesday. A researcher initiated coverage of the pet products and services specialist with only the equivalent of a neutral recommendation. However, she waxed sufficiently bullish about the company to where investors pushed its stock price up by nearly 3% on the day.Well before market open, Wolfe Research's Shweta Khajuria launched coverage of Chewy with her company's version of a neutral tag, peerperform. Khajuria did not include a price target in her analysis. In her inaugural Chewy note, the prognosticator wrote that she was somewhat doubtful about management's ability to grow both its revenue generally, and more specifically its number of active customers, an important client category. She also expressed concern that Chewy is selling into a market currently experiencing reduced pet take-up.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool