Wayfair price target raised to $62 from $55 at RBC Capital

RBC Capital analyst Steven Shemesh raised the firm’s price target on Wayfair to $62 from $55 and keeps a Sector Perform rating on the shares after its Q4 earnings beat. With signs of third-party data inflecting more positively and a new adjusted EBITDA floor of $460M, Wayfair story “admittedly feels somewhat de-risked”, the analyst tells investors in a research note. RBC adds however that it will be looking for better visibility double-digit net sales growth to get more constructive on the stock.