Argus upgrades Wayfair to Buy on market share gain expectations

As previously reported, Argus analyst John Staszak upgraded Wayfair (W) to Buy from Hold with a $40 price target Reluctant to purchase new homes at elevated prices, many homeowners are upgrading furnishings, notes the analyst, who expects the trend to benefit Wayfair, which the firm views as likely to gain market share as a growing number of home goods are purchased online. The firm cites the company’s “strong” distribution network and “vast product offerings.”