JP Morgan Rates Chewy (CHWY) buy, $29 Price Target

JP Morgan has reaffirmed its 'buy' rating for Chewy, Inc., setting a price target of $29 as of June 11, 2026, a 53.16% upside from the current price.

By EarningsIQ Research Desk · Published Jun 12, 2026, 9:12 PM EDT · Updated Jun 17, 2026, 10:01 AM EDT

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JP Morgan rated Chewy, Inc. ($CHWY) "buy" with a $29 price target on June 11, 2026.

Since the rating, $CHWY is down 3.0% after 1 week, up 8.3% after 1 month and up 11.7% to date (from the $18.77 close on Jun 11, 2026).

CHWY Chewy, Inc.

$20.97 -37.38% year to date

Daily close · Oct 16, 2026

Key Points

JP Morgan reiterated its 'buy' rating on Chewy, Inc. (NYSE: CHWY) with a price target of $29, while the stock currently trades at $18.93, showing a potential upside.
The stock has a 52-week low of $17.40 and a high of $40.55, indicating its current price is below its historical performance.
Analysts have a consensus target mean price for Chewy of about $28.82, based on 22 opinions, suggesting general optimism about its growth prospects.

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JP Morgan's Continued Confidence in Chewy

JP Morgan has reiterated its 'buy' rating for Chewy, Inc. (NYSE: CHWY) with a price target of $29 as of June 11, 2026. The firm's analyst, Doug Anmuth, believes in the company's potential for growth. Currently, Chewy's stock is trading at $18.93, well below the target price, which suggests there is room for upside.

What This Means for Chewy's Shareholders

The reaffirmation of the 'buy' rating comes as Chewy's shares have experienced fluctuations over the past year. The stock hit a 52-week low of $17.40 and peaked at $40.55, indicating its current trading price represents a significant opportunity for investors. The gap between the current stock price and JP Morgan's target highlights potential growth.

Analysts Set New Price Targets

JP Morgan's renewed outlook on Chewy aligns with a broader sentiment among analysts. The consensus target mean price from 22 analysts stands at about $28.82, which indicates optimism for the pet supplies e-commerce company. Other firms have also provided insights, including Mizuho, which maintains an 'Outperform' rating with a target of $28.00, and Goldman Sachs, which has a 'Buy' rating with a target of $30.00.

Chewy's Business Model

Chewy, Inc., based in Plantation, Florida, operates in the e-commerce space, focusing primarily on pet supplies. The company offers a wide range of products including pet food, treats, and medications, along with services like a subscription program known as Autoship. With a workforce of around 18,000 employees, Chewy continues to expand its market presence in the consumer cyclical sector, which makes the recent analyst rating particularly pertinent.

Looking Ahead for Chewy

Investors will want to keep an eye on Chewy's upcoming earnings report scheduled for December 9, 2026. This will provide additional insights into the company's performance and financial health. As a reminder, the latest rating from JP Morgan reflects the firm's perspective as of June 11 and may differ from future evaluations.

Overall, Chewy's stock presents an intriguing position within the market, especially as it trades below its historical averages while analysts remain generally positive on its future prospects.

12-month forecast