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Wayfair price target lowered to $50 from $57 at Jefferies

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.

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