BofA raised the firm’s price target on Wayfair (W) to $52 from $51 and keeps a Neutral rating on the shares. Online furnishings spend declined 1% year-over-year in Q4 according to BofA aggregated credit and debit card data, which was a 5 point improvement from Q3, the analyst tells investors in a preview. Ahead of earnings, the firm is raising Q4 and Q1 sales estimates to reflect stronger industry and Wayfair-specific data, the analyst noted.
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