4 big analyst picks: Wayfair scores 2 upgrades following Q2 earnings beat

Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Wayfair, Wix.com, Ross Stores, and Lamb Weston.

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Wayfair earns two upgrades following a Q2 beat

Wayfair (NYSE:W) received two upgrades after posting better-than-expected Q2 earnings, which resulted in a share price jump of more than 16% yesterday.

Wells Fargo upgraded the company to Overweight from Underweight and raised its price target to $100.00 from $35.00.

Meanwhile, Gordon Haskett upgraded to Buy from Hold with a price target of $110.00.

Wix.com upgraded to buy after Q2 beat

Benchmark upgraded Wix.Com (NASDAQ:WIX) to Buy from Hold with a price target of $120.00, as reported in real time on InvestingPro.

Shares surged nearly 13% yesterday after the company reported better-than-expected Q2 results and said it expects to accelerate top-line growth and margin expansion through the back half of the year.

2 more upgrades

TD Cowen upgraded Ross Stores (NASDAQ:ROST) to Outperform from Market Perform with a price target of $128.00.

"Our proprietary data shows Off-Price is significantly outpacing overall Retail traffic as value proposition resonates, while the availability of inventory is increasing based on our work."

TD Cowen believes that the company's margin recovery potential is underestimated by the consensus due to supply chain cost deflation, along with improving store productivity and accelerating SSS (same-store sales).

The company is set to report its Q2/24 earnings on Aug 17.

Lamb Weston (NYSE:LW) shares rose more than 1% pre-market today after Stifel upgraded the company to Buy from Hold with a price target of $115.00, noting that the current valuation doesn't reflect the advantaged growth profile of the company.

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