Wayfair is a ‘diamond in the rough,’ says JPMorgan

JPMorgan keeps an Overweight rating on Wayfair with an $83 price target following the company’s Q3 report. The turn of the company’s U.S. business to positive sales trends on order growth and significant share gains despite deflationary headwinds and a softening industry backdrop should refocus investors on Wayfair’s advantaged business model in a category that is still shifting online, the analyst tells investors in a research note. The firm calls Wayfair a “diamond in the rough” that investors should revisit.