Chewy Stock Jumps After Fetching Double Upgrade

Chewy Inc (NYSE:CHWY) is up 4.9% at $34.54 at last glance, after a rare double-upgrade from BofA Global Research to "buy" from "underperform," with a lofty price-target hike to $40 from $24. The firm noted that pet adoption is up since the beginning of the year, while pet spending has reached a low point and could be due for a rebound. Increased web traffic, among other things, was also a factor. Today's pop has CHWY inching above the $34 region, which capped rallies in mid September and earlier this month. ...