Wayfair Upgraded To Outperform From Perform At Oppenheimer

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.”