$W 👍 Wayfair price target raised to $260 from $220 at Goldman Sachs (https://thefly.com/permalinks/entry.php/id3127862/W-Wayfair-price-target-raised-to--from--at-Goldman-Sachs) Goldman Sachs analyst Heath Terry raised the firm's price target on Wayfair to $260 from $220 and keeps a Buy rating on the shares. Going into Q2 earnings, Internet sector valuations are well over the previous peak of the last five years and 35% above the average for that period on an equal weighted basis, Terry tells investors in a research note. While there is "considerable justification" for this given, including the acceleration in e-commerce growth, digital payment adoption and limited alternatives for growth investors, the "bar is clearly high for results season," says the analyst. Terry expects more medium- and long-term outperformance to come from those companies with "models that will benefit beyond the immediate crisis in the form of accelerated network effects, weakened competitive sets, and scale benefits to profitability."