Needham reinstated coverage of Wayfair (W) with a Buy rating and $60 price target Wayfair has been facing significant macro headwinds from consumer spending, pandemic pull forward and housing market softness, the analyst tells investors in a research note. However, the firm sees the potential for this to flip in 2025 as it sees the housing market recovering after stabilizing in 2024. Wayfair could be an “under the radar beneficiary of this trend, causing a snap back in consumer spending” on furniture, and therefore “creating a compelling risk reward in shares,” contends Needham.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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