RBC Capital Rates Chewy (CHWY) buy, $34 Price Target

RBC Capital has reiterated its buy rating for Chewy, Inc. with a price target of $34, showing solid support for the online pet retailer, a 79.56% upside from the current price.

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

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RBC Capital rated Chewy, Inc. ($CHWY) "buy" with a $34 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

RBC Capital maintains a buy rating on Chewy, Inc. with a price target of $34, which suggests significant upside from its current price of $18.93.
The company reported a revenue of about $13.07 billion for the last fiscal year and continues to grow in the competitive pet industry.
Analysts remain positive, with 22 opinions recommending the stock a consensus 'buy' rating and a mean price target of approximately $28.82.

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RBC Capital Maintains Buy Rating on Chewy

On June 11, 2026, RBC Capital reiterated its buy rating on Chewy, Inc. (NYSE: CHWY) with a price target of $34. The stock closed at $18.93 on the same day, suggesting a substantial upside for investors who are bullish on the company's future.

RBC Capital's reaffirmation of the buy rating reflects confidence in Chewy's business model and growth potential. The firm believes Chewy's focus on e-commerce for pet supplies positions it well in the market. The company has seen notable revenue, with $13.07 billion reported for the last fiscal year, showing that it remains a leading player in the pet retail sector.

Analysts Set New Price Targets

RBC Capital isn't the only firm expressing optimism about Chewy. On September 10, 2026, Morgan Stanley maintained an overweight rating with a target of $36, while Goldman Sachs also kept a buy rating but adjusted its target down to $30. Additionally, Mizuho has an outperform rating with a target of $28, indicating that several analysts see potential in the company's stock.

The consensus from 22 analysts is a buy recommendation, with a mean price target of $28.82. This reflects a favorable outlook for Chewy as it approaches its next earnings report on December 9, 2026.

Stock Performance Context

Chewy's stock is currently trading at $18.93, significantly below its 52-week high of $40.55. The shares are also above the 52-week low of $17.40. This pricing situation may suggest a buying opportunity for investors looking to capitalize on potential growth as the company continues to expand its services and product offerings.

12-month forecast

$CHWY price target

Chewy, Inc. daily closes and this analyst's $34 target. Not advice.

What Chewy, Inc. Does

Chewy, Inc., based in Plantation, Florida, provides a range of pet products through its online platform. The company offers everything from pet food and supplies to health products and services. This focus on e-commerce has made Chewy a significant player in the pet retail space since its founding in 2010, appealing to pet owners who prefer the convenience of online shopping.

What to Watch at Chewy, Inc.

Investors will be looking closely at Chewy's upcoming earnings report scheduled for December 9, 2026. With RBC Capital's recent reaffirmation of a buy rating and a promising outlook from multiple analysts, attention will be on whether the company's results meet expectations. Remember, RBC's rating reflects past performance and may not predict current market activities, as the 13F filing shows holdings as of a previous period.