Truist cuts First Industrial Realty stock price target on FFO outlook

Truist Securities has increased its price target for Wayfair Inc. (NYSE:W) to $160 from $135, while retaining a Buy rating. The stock is currently trading near $123.42, close to its 52-week high of $122.12, following a 72% gain over the last six months. The company's third-quarter 2026 results exceeded expectations, and fourth-quarter 2026 guidance remains in line with previous forecasts.

Despite challenges in the home furnishings sector, Wayfair is gaining market share, according to Truist Securities. The firm anticipates high single-digit revenue growth and a 6% to 7% adjusted EBITDA margin for the fourth quarter of 2026. Wayfair's operational efficiency has improved, with strong performance in both online and physical stores.

Of the 8 analysts who have revised their earnings estimates upward for the current period, 8 have done so. However, InvestingPro's assessment suggests the stock is overvalued. Wayfair operates on a marketplace model with 22 million shoppers and 20,000 suppliers. The company boasts a comprehensive logistics network. Truist Securities also highlighted Wayfair's expanding list of AI partnerships with Google, OpenAI, and Meta, noting that the marketplace model is well-positioned for AI-driven discoveries and opportunities.

The company recently reported stronger-than-expected third-quarter 2026 financials, with adjusted earnings of $0.93 per share compared to the expected $0.79 per share. Revenue reached $3.42 billion, a 9.7% increase from the prior year. U.S. revenue grew by 11.4%, its strongest quarterly growth since early 2021. Raymond James also maintained a Strong Buy rating on Wayfair, reaffirming the company's accelerating U.S. revenue growth and market share gains.

The company's management emphasized this quarter as the strongest post-pandemic growth period to date.