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Wayfair Shares Higher Amid Multiple Buy Ratings

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Wayfair Inc (NYSE: W) received Buy ratings from several firms initiating coverage on Monday.

Citi rated the stock a Buy with a $30 price target and noted that at "1.2x revenue, we view the valuation as attractive for this leading online retailer targeting the >$200bn home goods market with >30 percent growth but that also needs to prove out the long-term profitability targets."

Canaccord also initiated with a Buy rating and $34 price target, Goldman Sachs initiated with a Buy while Wells Fargo and Pacific Crest rated it Outperform.

Piper Jaffray initiated an Overweight rating with a price target of $40, the most bullish of Monday’s reports.

The report from Citi concluded that "given Wayfair’s position as online category leader, we believe Wayfair is well positioned to benefit as the online home goods market grows."

Wayfair Inc recently traded at $26.07, up 3.62 percent.

Latest Ratings for W

DateFirmActionFromTo
Sep 2019Initiates Coverage OnNeutral
Sep 2019Initiates Coverage OnSell
Sep 2019Initiates Coverage OnBuy

View More Analyst Ratings for W
View the Latest Analyst Ratings

Posted-In: Canaccord Citi Goldman Sachs Pacific CrestAnalyst Color Price Target Initiation Analyst Ratings

 

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