Wayfair price target raised to $60 from $38 at Cowen

Cowen analyst John Blackledge raised the firm’s price target on Wayfair to $60 from $38 and keeps a Market Perform rating on the shares. The analyst noted the company announced that revenue trends improved in December versus November and they expect to be EBITDA breakeven sooner than expected in 2023 and as such, Cowen raised its revenue and EBITDA estimates in 4Q and longer term.