Wayfair price target raised to $80 from $68 at Stifel

Stifel analyst Mark Kelley raised the firm’s price target on Wayfair (W) to $80 from $68 and keeps a Hold rating on the shares as part of a broader research note previewing Q3 results in e-commerce. The firm is citing third-party data suggesting strong results, and Bloomberg Second Measure points to Q3 topline upside, the analyst tells investors in a research note. Stifel adds that it is raising its assumed multiple to 2-year average as underlying macro conditions improve.