Truist raised the firm’s price target on Wayfair to $70 from $63 and keeps a Buy rating on the shares after its better than expected results. The firm remains constructive on the stock following a solid Q1 showing demand trends stabilizing, with positive growth in active customers and order frequency offset by lower Average Order Values, the analyst tells investors in a research note. Wayfair continues to gain market share amid a tough Home Furnishing segment while driving meaningful cost efficiencies, the firm added.
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