Why Chewy Stock Ticked Higher on Thursday

Usually, a stock that gets an analyst recommendation upgrade also gets a share price pop. On Thursday, Chewy (NYSE: CHWY) was fortunate enough to be the beneficiary of two such moves, and as a result its shares closed the day almost 3% higher in price. This was during a trading session when the S&P 500 index mustered a relatively low 0.9% increase.The first of the two upgrades was made by Seaport Global Securities's Aaron Kessler. That morning, Kessler upped his recommendation to buy from the previous neutral, at a price target of $47 per share. That's 30% above the company's most recent closing stock price.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool