Wayfair price target raised to $55 from $45 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Wayfair to $55 from $45 and keeps a Hold rating on the shares. The firm contends that lower interest rates will eventually flow through to home-related sales, and while it is leaving its 2024 sales estimate unchanged at $11.86B, it is raising its 2025 sales view by $200M to $12.26B, the analyst tells investors in a research note. Loop adds that it also expects Wayfair to carefully manage overhead costs while waiting for a recovery.