Jefferies raised the firm’s price target on Wayfair (W) to $60 from $55 and keeps a Buy rating on the shares. Wayfair has been adding to its market share over the past few quarters and June data marks three consecutive months of web traffic share gains, the analyst reported. This is “a dynamic we haven’t seen occur in over a year” and reinforces it firm’s above-consensus estimates, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on W:
- Wayfair put volume heavy and directionally bearish
- Wayfair price target raised to $49 from $46 at BofA
- Wayfair price target raised to $61 from $46 at Piper Sandler
- Wayfair’s Strategic Gains and Market Positioning Justify Buy Rating
- Wayfair’s Growth Potential Bolstered by Perigold’s Success and Strategic Retail Expansion