In a report released today, Curtis Nagle from Bank of America Securities reiterated a Hold rating on Wayfair, with a price target of $60.00.
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Curtis Nagle’s rating is based on a combination of factors that suggest a balanced outlook for Wayfair. While the company is expected to exceed sales and EBITDA projections due to strong inventory management and vendor-funded promotions, these positive aspects are somewhat offset by broader industry concerns. The online furniture market has shown modest improvements, but there is a risk that increased promotional activities could impact future sales.
Additionally, while tariff concerns are diminishing, they remain a significant topic of discussion, particularly regarding their potential impact on the latter half of the year’s trends. Despite Wayfair’s shares performing well year-to-date, Nagle believes that the current share price already reflects much of the potential upside from these positive developments. Therefore, the Hold rating reflects a cautious stance, balancing the company’s strengths against the uncertainties in the market.
In another report released today, TD Cowen also maintained a Hold rating on the stock with a $52.00 price target.