Oppenheimer analyst Brian Nagel upgraded Wayfair (W) to Outperform with an $80 price target.
The online home goods retailer closed yesterday up $3.56 to $66.48.
The company’s sales growth has been reaccelerating lately and its “inventory-light” business model is both powerful and underappreciated, Nagel tells investors in a research note. He views the stock’s valuation as “compelling.”
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