Wayfair price target raised to $65 from $55 at Loop Capital

Loop Capital raised the firm’s price target on Wayfair to $65 from $55 and keeps a Hold rating on the shares. After connecting with the company’s management in its regular update call before Wayfair entered its quiet period, the firm is raising its sales estimates starting with the September quarter as it sees an improvement in promotional activity in home furnishings as Wayfair laps the negative high-single-digit comparisons in average online orders in the second half of the year, the analyst tells investors in a research note. Wayfair remains funded by debt, and the cost of debt has increased significantly, but while it remains unclear when home furnishings will be a growth industry again, at this share price, the risk-reward on the stock looks “evenly balanced”, Loop added.