Wayfair Analyst Turns Bullish On E-Commerce Stock: 'On The Cusp Of Driving Sustained EBITDA Profitability'
Portfolio Pulse from Priya Nigam
Piper Sandler analyst Peter Keith has upgraded Wayfair Inc (NYSE:W) from Neutral to Overweight and raised the price target from $35 to $97. Keith believes that Wayfair is on the verge of sustained EBITDA profitability, with the home furnishings industry stabilizing and Wayfair's sales improving. The company's Investor Day on August 10th is expected to provide investors with greater long-term confidence on profitability outlook.
July 31, 2023 | 3:43 pm
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POSITIVE IMPACT
Wayfair's stock has been upgraded by Piper Sandler, with a raised price target. The company's sales are improving and it is expected to achieve sustained EBITDA profitability.
The upgrade from Piper Sandler and the raised price target indicate a positive outlook for Wayfair. The company's improving sales and expected sustained EBITDA profitability are likely to have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100