Wayfair price target lowered to $50 from $55 at Loop Capital

Loop Capital lowered the firm’s price target on Wayfair (W) to $50 from $55 and keeps a Hold rating on the shares after its Q3 results and guidance. Lower interest rates will eventually flow through to home-related sales, and the firm is hopeful that we’ve just seen the first of several interest rate cuts, but that said, Q3 sales declined 3% compared to Loop’s estimate of a 1% decline, and the firm expects Wayfair to carefully manage overhead costs pending a recovery, the analyst tells investors in a research note.