Why Wayfair Stock Was Cruising Higher This Week
For the second week in a row, (NYSE: W) looked set to be quite a rock star on the stock market. According to data compiled by S&P Global Market Intelligence, shares of the online furniture and home furnishings retailer were up by nearly 15% this week to date as of late Thursday evening. An analyst's recommendation upgrade provided much of this lift.
Wayfair's rise started early in the week. Before market open on Monday Mizuho's David Bellinger reiterated his outperform (i.e., buy) recommendation on the company's stock. Ditto for his price target of $65 per share.
Optimism was already in the air for Wayfair, thanks to news that broke the previous week about its fellow furniture retailer RH, previously known as Restoration Hardware. That Thursday after market close, RH delivered a very impressive set of second-quarter fundamentals that sent its share price soaring; Wayfair's rose too, largely by association.
Source Fool.com
Wayfair Inc. Stock
The stock is one of the favorites of our community with 35 Buy predictions and 2 Sell predictions.
With a target price of 65 € there is a positive potential of 27.8% for Wayfair Inc. compared to the current price of 50.86 €.
