Wayfair price target raised to $144 from $100 at Oppenheimer

Oppenheimer analyst Brian Nagel raised the firm’s price target on Wayfair (W) to $144 from $100 and keeps an Outperform rating on the shares. As the firm sees it, the unique and highly leverageable Wayfair business model remains in the early stages of positive inflection, and the shares continue to enjoy significant room to run. Key to Oppenheimer’s now more upbeat positioning towards Wayfair is its assessment that despite still sluggish industry dynamics, the enterprise is already delivering outsized profitability and cash generation, suggesting prospects for even stronger trends as macro headwinds subside.