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Wayfair price target raised to $82 from $75 at JPMorgan

JPMorgan analyst Christopher Horvers raised the firm’s price target on Wayfair (W) to $82 from $75 and keeps an Overweight rating on the shares after its Q2 earnings beat. It was clear that the demand upside was not driven by pre-tariff buying or tariff-induced price inflation, but share gains as a result of self-help factors, the analyst tells investors in a research note. Wayfair’s impressive potential margin leverage was also evident, driven by generally fixed SG&A costs and strong returns on advertising, the firm added.

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