Morgan Stanley analyst Simeon Gutman maintained a Buy rating on Wayfair (W – Research Report) today and set a price target of $72.00.
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Simeon Gutman has given his Buy rating due to a combination of factors including Wayfair’s potential for top-line growth and market share gains. The company is expected to benefit from an industry-wide demand ‘unlock’ post-election, which could lead to an upside surprise in net sales for the fourth quarter of 2024.
Additionally, the focus on adjusted EBITDA growth and margin expansion supports the positive outlook, as cost efficiencies are likely to hedge against potential downsides. The stock is viewed favorably at its current price level, with an attractive risk/reward profile that suggests substantial upside potential as the home furnishings industry shows signs of improvement moving into 2025.
Gutman covers the Consumer Cyclical sector, focusing on stocks such as Tractor Supply, Advance Auto Parts, and Best Buy Co. According to TipRanks, Gutman has an average return of 3.4% and a 61.32% success rate on recommended stocks.
In another report released on February 10, J.P. Morgan also maintained a Buy rating on the stock with a $63.00 price target.