1152 ET - Chewy continues to drive meaningful market share gains, even if the broader pet industry is posting low-single-digit sales growth and pet adoptions are flat, Deutsche Bank analysts say in a research note. Still, investors sold off the stock Wednesday, in part due to "overblown" concerns about increased investments in 2H, they write. However, the analysts note that the pet-supplies company is investing into high lifetime value products and services--such as its paid membership program and private-label brands--which will serve to strengthen its earnings power into 2026 and beyond. Deutsche Bank upgrades Chewy to buy from hold and raises its price target to $45 from $38. (connor.hart@wsj.com)
(END) Dow Jones Newswires
September 11, 2025 11:52 ET (15:52 GMT)
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