Wayfair To Enter A Multi-Quarter Growth Period, Analyst Upgrades Stock
Portfolio Pulse from Lekha Gupta
UBS analyst Atul Maheswari has upgraded Wayfair Inc (NYSE:W) to Buy from Neutral with an increased price target of $110 from $72. The analyst believes that Wayfair will enter a multi-quarter growth period with a boost in sales and profit. The company's move to reduce the cost base is expected to drive margin gains in the future. Last week, Wayfair reported a Q2 FY23 sales decline of 3.4% YoY to $3.17 billion, beating the consensus of $3.10 billion.
August 07, 2023 | 5:36 pm
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Wayfair Inc has been upgraded to Buy from Neutral by UBS analyst Atul Maheswari with a price target of $110. The company is expected to witness a multi-quarter growth period with increased sales and profit.
The upgrade by UBS analyst Atul Maheswari is a positive signal for Wayfair Inc. The analyst's belief that the company will enter a multi-quarter growth period with a boost in sales and profit is likely to have a positive impact on the company's stock price. Additionally, the company's move to reduce the cost base is expected to drive margin gains in the future, which is also a positive factor for the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100