Piper Sandler raised the firm’s price target on Wayfair (W) to $61 from $46 on improving industry demand, while keeping an Overweight rating on the shares. The firm says the May PSC Mattress Retailers Survey was quite encouraging with delivered sales on a mean/median basis at +4%/+5% year-over-year — marking the second consecutive month with sales among the best in 3 years.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on W:
- Wayfair’s Strategic Gains and Market Positioning Justify Buy Rating
- Wayfair’s Growth Potential Bolstered by Perigold’s Success and Strategic Retail Expansion
- ‘Buy Wayfair and Best Buy Stocks,’ Says Five-Star Analyst
- Wayfair to benefit from At Home bankruptcy, says Mizuho
- Wayfair Elects Directors at Annual Stockholders Meeting