Analyst Highlights Chewy's Massive Growth Potential

Core Viewpoint - Chewy Inc (NYSE:CHWY) has received an upgrade from Wolfe Research, moving from "peer perform" to "outperform," highlighting potential for revenue and margin growth along with a strong valuation [1] Group 1: Stock Performance - Over the last nine months, Chewy's stock has increased nearly 107%, with a year-over-year gain of 62.2% [2] - The stock is approaching its 12-month high of $39.10, reached on June 27, following a recovery from an early November bear gap [2] Group 2: Analyst Ratings - Despite positive price movements, 11 out of 27 analysts still rate Chewy stock as a "hold," indicating potential for further upgrades [3] - A short squeeze could provide additional upward momentum, as short interest represents 7.4% of the stock's available float, equating to over two days of buying power [3] Group 3: Options Market - Options trading appears to be an affordable strategy, with Chewy's Schaeffer's Volatility Index (SVI) at 46%, ranking in the 4th percentile of its annual range, suggesting lower-than-usual volatility expectations [4]