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Chewy's stock jumps after Wedbush analyst recommended buying

·1 min read
Chewy's stock jumps after Wedbush analyst recommended buying
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Shares of Chewy Inc. ran up 5.0% in premarket trading Tuesday, after Wedbush analyst Seth Basham recommended investors buy, citing a more favorable risk-versus-reward profile following the sharp selloff this year. The online pet products seller was upgraded to outperform from neutral, and the stock price target was raised to $35 from $30, with Basham citing "relatively favorable" pet category dynamics, "bottoming" ecommerce trends and "attractive" valuation. The stock had plummeted 51.3% year to