Citi analyst Ygal Arounian upgraded Wayfair (W) to Buy from Neutral with a price target of $93, up from $32, following the Q2 report. The impact of tariffs on the business is less than expected and Wayfair is well positioned to win market share, the analyst tells investors in a research note. The firm believes Wayfair is seeing structural improvements for Castlegate as well as better growth in higher-market brands. The improvements are sustainable, contends Citi.
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