Chewy (CHWY) is a good stock to buy now, according to analysts at Goldman Sachs. The firm reiterated its overweight rating and $46 price Target on the stock.
“We think shares of CHWY are attractive on both fundamental and valuation grounds,” analysts wrote in a report. “The company is growing rapidly, has a strong competitive position, and is well positioned to benefit from accelerating e-commerce growth.
We believe the stock is undervalued.”.
The analysts added that they see “significant UPSide” for the company over the next several years. They predict CHWY will grow its earnings by more than 50% in 2019, and by even more in 2020 and 2021.
“We see CHWY as a highly undervalued growth stock that investors should consider adding to their portfolios,” the analysts wrote.
