Wayfair price target raised to $50 from $35 at Bernstein

Bernstein analyst Nikhil Devnani raised the firm’s price target on Wayfair (W) to $50 from $35 and keeps a Market Perform rating on the shares. The firm notes the category accelerated through Q2, which bodes well for Wayfair. Management left things open-ended by not providing guidance, and should benefit from a longer Way Day year-over-year. Tariffs were shrugged off in Q1, but Bernstein believes pricing and pull-forward impacts may be seen yet.