Wayfair upgraded to Buy at Gordon Haskett after Q3 report

As previously reported, Gordon Haskett analyst Chuck Grom upgraded Wayfair (W) to Buy from Accumulate with a price target of $150, up from $100, after updating the firm’s model to reflect the company’s Q3 results and Q4 guidance. Wayfair’s recovery from a multi-year period of category fatigue “took another step in the right direction” as sales grew 6.0% year-over-year, representing the company’s best growth since Q1 of 2022, notes the analyst, who adds that the company’s profitability curve continues to also improve.