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Today’s Analyst Stock Initiations of Note:
Oppenheimer initiated coverage on Chewy Inc . (NYSE:CHWY) with an Outperform rating and a price target of $42. The analysts note shares are down 70% from all-time highs in February 2021, versus a 4% decline in the S&P 500. They see the pullback as an opportunity for investors with a long-term time horizon. Shares fell 4% despite the positive research.
Needham & Company initiated coverage on Unity Software Inc (NYSE:U) with a Buy rating and a price target of $50. The analysts there called the U’s Create system “best in class” and said it should benefit from “rising demand for real-time, interactive, 3-D content in gaming and beyond.” Shares fell 9% despite the positive report.
Morgan Stanley initiated coverage on SLM Corp. (NASDAQ:SLM) with an Underweight rating and a price target of $15.00. The analysts there see consensus EPS falling on higher rates, rising delinquencies, and political/regulatory headline risk. Shares fell nearly 2.5% today.
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