Morgan Stanley analyst Simeon Gutman upgraded Wayfair to Equal Weight from Underweight with a price target of $35, up from $30. The stock seems to be pricing in "tepid" long-term fundamentals, investor sentiment is bearish, and short interest is high at over 20%, Gutman tells investors in a research note.. At this price, Wayfair’s risk/reward is balanced, the analyst contends. He believes the company’s fundamentals could start to improve as supply and demand levels rebalance.
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Published first on TheFly
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