UPDATE: RBC Capital Starts Wayfair (W) at Sector Perform
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RBC Capital analyst Steven Shemesh initiates coverage on Wayfair (NYSE: W) with a Sector Perform rating and a price target of $158.00.
The analyst comments "We are initiating on Wayfair with a Sector Perform rating and $158 price target based on a 1.1x EV/sales multiple on our FY’23 revenue estimate of $17.7B. While we believe Wayfair has a substantial top-line opportunity over the long term, we are cautious over the next few quarters as we suspect supply chain challenges and the optics of slowing customer growth will result in share volatility."
Shares of Wayfair closed at $142.67 yesterday.
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