Wayfair price target raised to $125 from $120 at Guggenheim

Guggenheim raised the firm’s price target on Wayfair (W) to $125 from $120 and keeps a Buy rating on the shares. Wayfair’s issuance of interest-bearing senior notes in order to repurchase a portion of the company’s outstanding convertible notes, its second such move this year, is viewed “favorably” by the firm, especially given the timing of such transaction as it is indicative of proactive dilution risk management, the analyst tells investors.