Always keep an eye on analyst upgrades, we often say.
Just be sure to do your own due diligence before taking their advice. After all, they’re not always right. And the last thing you want to do is blindly buy because a firm suggests it.
Look at Wayfair (W).
Severely oversold at $35.01, Wayfair (W) now trades at lows not seen since mid-2023. It’s also over-extended on RSI, MACD and Williams’ %R.Analysts at Jefferies also upgraded W to a buy with a price target of $47. “With top-tier market share gains, a new paid loyalty program, compelling B2B traction, and underrated physical retail expansion, we have fresh optimism for EBITDA growth above the Street,” added the firm, as quoted by CNBC. “We believe W’s current multiple overemphasizes lackluster industry growth and fails to appropriately credit consistent share gains.”
Sincerely,
Ian Cooper
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