Wayfair initiated with a Peer Perform at Wolfe Research

Wolfe Research analyst Greg Badishkanian initiated coverage of Wayfair with a Peer Perform rating and no price target. Wayfair is one of the largest online sellers of home goods and currently trades at a trough multiple, but with questions over customer growth and risks to discretionary spending ahead, the stock’s risk/reward is balanced, Badishkanian tells investors in a research note.