Mizuho Reiterates Outperform Rating on Wayfair (W)

Mizuho analyst David Bellinger reiterated an Outperform rating and $65.00 price target on Wayfair (NYSE: W).

The analyst commented: "Shares of Wayfair are moving higher this morning on a combination of: 1) Better demand commentary from RH following the company's Q2 results (period ending August 3) and indications of accelerating top-line performance into August; and 2) Executive action from the Biden administration to "stop the abuse" of the $800 de minimis exception used by certain eCommerce operators. We previously outlined considerable bi-partisan support to restructure China trade relations, including the potential elimination of the $800 de minimis exception on overseas shipments. We view today's development as a key positive for W in dispelling at least some fears around increased competition / price undercutting by Temu (PDD, Not Covered), amid the online operators push into the home category."

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 $47.35 yesterday.

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