Wayfair upgraded to Buy at Gordon Haskett on improving outlook

As previously reported, Gordon Haskett analyst Chuck Grom upgraded Wayfair to Buy from Hold with a price target of $110, up from $65. Following the company’s quarterly report, the firm said it sees an inflection point in the maturation of the business with the company clearly focused on improved profitability, at the same time that revenue trends in both e-commerce and home furnishings appear to be now bottoming out. Looking ahead, the firm sees further upside from an improving topline outlook, increasing profit visibility, and the company’s upcoming analyst day on August 10.