10 Firms End Stronger, Buck Muted Broader Market Trading

6. Wayfair Inc. (NYSE:W)

Wayfair Inc. saw its share prices rise by 5.85 percent to finish at $26.61 apiece as investors continued to buy shares after earning an upgraded rating from an investment firm.

Earlier this week, UBS gave Wayfair a Buy rating despite reducing its price target by 8.3 percent to $55 from $60 previously.

UBS underscored Wayfair’s risks in the ongoing global trade war due to its significant reliance on suppliers from China, Vietnam, and other countries.

In other related news, Wayfair also earned a lower price target of $46 from Piper Sandler, from $58 previously. However, the investment firm maintained its overweight rating for the company.

According to Piper Sandler, the rating was based on the company’s collaboration with the Home Furnishings Association on a study that showed a modest slowdown in furniture demand from the previous quarter.

According to the survey, recorded sales in the first quarter decreased by 1 percent, with March being the strongest in terms of demand.