Wayfair price target raised to $60 from $45 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Wayfair to $60 from $45 but keeps a Hold rating on the shares. The stock popped on the news of staff cuts but remains down about 5% quarter-to-date, the analyst tells investors in a research note. The firm is also raising its FY24 EBITDA view to $602M from $424M but cutting its revenue view to $11.9B from $12.2B, noting that organic sales trend for home goods continues to decline while adding that it “remains unclear” when home furnishings will be a growth industry again, Loop added.