Truist raised the firm’s price target on Wayfair to $96 from $56 and keeps a Buy rating on the shares. The analyst remains constructive on Wayfair shares, saying the Q2 results and Q3 guidance show demand trends normalizing with the company recapturing market share. In addition, Wayfair’s “aggressive cost containment” is showing material margin leverage, the analyst tells investors in a research note. The firm continues to find the stock’s valuation “compelling” at current levels.
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