Wayfair price target raised to $96 from $56 at Truist

Truist analyst Youssef Squali raised the firm’s price target on Wayfair to $96 from $56 and keeps a Buy rating on the shares after its Q2 earnings beat. The firm is “constructive” on the stock after results and guidance that show demand trends normalizing, with Wayfair recapturing market share, the analyst tells investors in a research note. Truist adds that Wayfair’s aggressive cost containment across the P&L is showing material margin leverage.