** Shares of online pet retailer Chewy's CHWY.N up almost 1% to $37.89 premarket after MoffettNathanson upgrades the stock to "Buy" from "Neutral"

** Brokerage raises PT to $48 from $33, citing confidence in pet household recovery and Chewy’s ability to meet or beat customer addition forecasts through full year 2026

** Sees Chewy adding 800,000 net customers annually and capturing about 30% of industry gross customer additions as they overcome COVID-era headwinds - Brokerage

** Analysts view Chewy+, a paid membership program, as a smart offensive strategy despite near-term margin dilution

** 21 of 31 brokerages rate the stock "buy" or higher and 10 "hold"; their median PT is $46 - data compiled by LSEG

** Upto last close, CHWY stock up about 11% YTD

(Reporting by Sanskriti Shekhar)

((Sanskriti.Shekhar@thomsonreuters.com))