Wayfair price target raised to $100 from $85 at Evercore ISI

Evercore ISI raised the firm’s price target on Wayfair (W) to $100 from $85 and keeps an Outperform rating on the shares. Wayfair is making strides in both growth and margin expansion, with revenue growth being fueled by initiatives like Rewards, App engagement, Wayfair Verified, and selective physical retail that are expected to drive company-specific execution against a soft home category backdrop, the analyst tells investors. Wayfair is effectively expanding its sales and margins simultaneously, which is “a shift from its previous ‘either/or’ scenario,” the analyst added.