Goldman Sachs Starts Wayfair (W) at Buy

Goldman Sachs initiated coverage on Wayfair (NYSE: W) with a Buy rating and a price target of $35.00.

Analyst Debra Schwartz said, "Wayfair is an online retailer in the home goods category offering a vast selection of merchandise underserved by national store-based furniture retail models due to traditionally cost-prohibitive economics. Its asset-light model and technology infrastructure support its scale, enabling category penetration online. While accelerating near-term investment is a risk, we believe the bar for customer growth and wallet share gains is more than achievable with the stock trading at just over 1X 2016E EV/Sales."

For an analyst ratings summary and ratings history on Wayfair click here. For more ratings news on Wayfair click here.

Shares of Wayfair closed at $25.16 yesterday.

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