Wayfair price target raised to $125 from $98 at Piper Sandler

Piper Sandler raised the firm’s price target on Wayfair (W) to $125 from $98 and keeps an Overweight rating on the shares following another strong Q3 print. For the second quarter in a row, Wayfair has demonstrated the upside power in their model with accelerating sales growth while holding expenses steady, Piper adds. While Q3’s sales growth is impressive, the firm reminds investors that Wayfair is taking share and seeing strong growth without any benefit from the housing market.