Wayfair price target raised to $98 from $86 at Canaccord

Canaccord analyst Maria Ripps raised the firm’s price target on Wayfair to $98 from $86 and keeps a Buy rating on the shares. The firm said they reported strong Q2 results, with active customers returning to sequential growth for the first time since 1Q21, while revenue, gross margin, and profitability were all above expectations, and the company generated positive FCF for the first time since 4Q21.