Jefferies lowered the firm’s price target on Wayfair to $50 from $57 and keeps a Hold rating on the shares. Weak housing turnover, the ongoing digestion of COVID demand, and stretched household budgets “cloud the progress Wayfair is making in long-term initiatives,” says the analyst, whose expectation for category stabilization is further postponed exiting the company’s Q2 call.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on W:
- Wayfair Announces Second Quarter 2024 Results, Reports Best Quarter of Profitability and Cash Flow in Three Years
- Is W a Buy, Before Earnings?
- Wayfair call volume above normal and directionally bullish
- Wayfair price target lowered to $58 from $60 at Barclays
- Wayfair announces Black Friday in July sale
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue