TD Cowen Rates Chewy (CHWY) buy, $34 Price Target

TD Cowen continues its support for Chewy, Inc. with a price target of $34 after its latest analysis, a 79.56% upside from the current price.

By EarningsIQ Research Desk · Published Jun 12, 2026, 9:12 PM EDT · Updated Jun 17, 2026, 8:01 AM EDT

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TD Cowen 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

On June 11, 2026, TD Cowen reiterated its Buy rating on Chewy, Inc. (NYSE: CHWY) with a price target of $34. The stock is currently trading at $18.93.
TD Cowen's $34 price target implies 79.56% upside from Chewy, Inc.'s ($CHWY) current $18.93 share price.
Chewy reported revenue of $13.07 billion for the last year, showing a growth rate of 7.3%. This positions the company strongly in the internet retail sector.
With a P/E ratio of 31.6, Chewy is valued significantly given its growth potential, backed by a consensus price target of $28.82 based on 22 analyst opinions.

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TD Cowen Sticks with Buy Rating for Chewy

TD Cowen maintained its Buy rating on Chewy, Inc. (NYSE: CHWY) with a target price of $34 on June 11, 2026. Currently, Chewy's stock is trading at $18.93, which suggests significant upside potential based on the analyst's outlook.

What's Behind the Rating

Chewy, Inc. continues to engage customers through its e-commerce platform, specializing in pet food, supplies, and health products. This focus on customer needs has helped the company achieve a revenue of approximately $13.07 billion, reflecting a 7.3% growth year-over-year. TD Cowen's sustained confidence in the company's trajectory is evident in their latest analysis.

Analysts Set New Price Targets

TD Cowen isn't alone in its view. On September 10, 2026, Morgan Stanley maintained an Overweight rating with a target of $36. Meanwhile, Goldman Sachs also kept its Buy rating, although it adjusted its target down to $30 from $34. In contrast, JP Morgan downgraded its rating to Neutral with a target of $24. These varied perspectives highlight the mixed sentiments surrounding Chewy but indicate that many analysts still see value in the stock.

Stock Performance Context

Trading at around $18.93, Chewy's stock is currently above its 52-week low of $17.40 but well below its high of $40.55. This positioning suggests that while the stock isn't at its peak, it remains attractive for potential investors looking for growth in the consumer cyclical sector, especially with upcoming earnings on December 9, 2026.

12-month forecast

$CHWY price target

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

What Chewy, Inc. Does

Chewy, Inc. stands out in the internet retail industry by offering a broad range of pet-related products and services. With its strong revenue growth and expansive customer base, Chewy is positioned well to capitalize on the growing pet market.

What to Watch at Chewy, Inc.

Investors should keep an eye on Chewy's next earnings report scheduled for December 9, 2026. Additionally, as TD Cowen reiterated its Buy rating, further developments in Chewy's performance and market conditions will be crucial to watch. As a reminder, TD Cowen's rating reflects its outlook based on past performance and may not represent the current position of the company.