Wayfair price target raised to $125 from $105 at Argus

Argus analyst John Staszak raised the firm’s price target on Wayfair (W) to $125 from $105 and keeps a Buy rating on the shares after its Q3 earnings beat. Wishing to hold on to their historically low mortgage rates, and reluctant to purchase new homes at elevated prices, many homeowners are upgrading their home furnishings – a trend expected to benefit Wayfair, the analyst tells investors in a research note. Wayfair is likely to gain market share as a growing number of home goods are purchased online and the company leverages its strong distribution network and vast product offerings, the firm added.