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Fly News Breaks for February 20, 2020
W, LZB
Feb 20, 2020 | 04:58 EDT
Stifel analyst John Baugh upgraded La-Z-Boy (LZB) to Buy from Hold with a price target of $40, up from $33. The company reported another solid quarter with the highlight being a 10.5% increase in same-store written orders for the entire store system and improved margin in the upholstery segment, Baugh tells investors in a post-earnings research note. La-Z-Boy is weathering the "disruptors" like Wayfair (W), who are running into some difficulties, adds the analyst. He expects La-Z-Boy's EBITDA to grow near double digits for fiscal 2020 and 2021 and is surprised the stock didn't react more favorably to the Q3 results.
News For LZB;W From the Last 2 Days
W
Jul 7, 2020 | 04:57 EDT
Baird analyst Colin Sebastian raised the firm's price target on Wayfair (W) to $225 from $190 and keeps a Neutral rating on the shares. The analyst again increased revenue and EBITDA estimates for Wayfair to reflect ongoing strength in transaction volumes as well as benefits of lower customer acquisition costs. Sebastian is "impressed" with the "resilience" in e-commerce and home category spend in core Wayfair markets, North America and the U.K. With consensus estimates likely to increase further, he remains "constructive" on shares, but notes that Amazon's (AMZN) recent return to paid search/social could present new "headline risks."