Wayfair price target raised to $100 from $70 at Oppenheimer

Oppenheimer analyst Brian Nagel raised the firm’s price target on Wayfair to $100 from $70 and keeps an Outperform rating on the shares. The firm recently undertook a significant deep-dive, refresh-type analysis on Wayfair, examining closely the company’s unique business model and the market sentiment embedded within the shares. While risks for the company persist, the company is much better positioned following “aggressive” strategic restructuring, the analyst tells investors in a research note. The firm added that shares meaningfully underappreciate continued recovery potential nearer term.