Wayfair (W): Buy Ahead Of Earnings - Wedbush
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Wedbush analyst, Seth Basham, reiterated his Outperform rating on shares of Wayfair (NYSE: W) and thinks low expectations are now built into the share price.
The analyst believes the buyside consensus is now fearing a 3Q16 miss and weak 4Q16 guidance when W reports on Tuesday, November 8 BMO but he would be a buyer.
The analyst believes Wayfair set 3Q16 guidance that is achievable and believes that 4Q16 guidance should not be far from consensus. He also believes that any clarity on the US business or indication of consolidated profitability in 2017 (vs. flat consensus) would also be well received.
No change to the price target of $55.
Shares of Wayfair closed at $33.37 yesterday.
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