Wayfair price target raised to $125 from $83 at Needham

Needham raised the firm’s price target on Wayfair (W) to $125 from $83 and keeps a Buy rating on the shares. The firm is positive on the company’s “strong” Q3 results while noting that given the substantial progress Wayfair has made on margins in recent years, and the current multiple, Needham sees revenue growth and revisions as the most important driver of equity returns, the analyst tells investors in a research note.