Wayfair price target raised to $73 from $39 at RBC Capital

RBC Capital analyst Steven Shemesh raised the firm’s price target on Wayfair to $73 from $39 but keeps a Sector Perform rating on the shares. The company’s Q2 earnings beat was defined by less bad top-line and cost savings efforts beginning to flow through to profitability, the analyst tells investors in a research note. RBC adds however that it remain hesitant on the sustainability of current top-line momentum given weakening consumer backdrop and suppliers working through excess inventory.