Wayfair (W) PT Raised to $102 at UBS Ahead of Q3 Results

UBS analyst Michael Lasser raised the price target on Wayfair (NYSE: W) to $102.00 (from $91.00) while maintaining a Buy rating.

The analyst commented, "We're constructive heading into the print. We think the most likely case is that Wayfair achieves 3Q sales growth in the 4-6% range (cons. 4.4%). In turn, this should be enough to meet, or slightly exceed the consensus 3Q EBITDA estimate of $162m. Looking ahead, we think the co. has been able to sustain healthy top-line momentum recently. So, we expect it will point to 4Q sales growing in the low to mid-single digit range (cons. 3.2%), similar to its 2Q guidance. Our sense is the co. may speak to some conservatism to account for uncertainty this Holiday, given the myriad cross-currents impacting consumer budgets. If this is the case, it could put modest upward pressure on EBITDA estimates for 4QE and '26E, but also leave the door open for a positive fundamental surprise next quarter as well."

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