DA Davidson raised the firm’s price target on Wayfair to $49 from $45 and keeps a Buy rating on the shares. The analyst is updating the firm’s discounted cash flow model, which includes its long term adjusted EBITDA margin forecast of 8.0% compared to negative 3.4% in 2022. Q4 sales performance and Q1 outlook served as reminders that the home e-commerce category is under tremendous pressure, but Wayfair has catalysts that include fast growing international efforts and its sponsored products advertising efforts, the firm tells investors in a research note.
Published first on TheFly
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