Wayfair price target lowered to $53 from $55 at Truist

Truist lowered the firm’s price target on Wayfair (W) to $53 from $55 and keeps a Buy rating on the shares. The firm says that mixed Q4 results and Q1 2025 guide show that the Home Furnishing category remains challenged amid a tough macro, requiring Wayfair to forgo some margin near-term to stimulate demand and build customer loyalty. Truist views Wayfair’s sustained share gains and improved cost efficiencies of the last two years as catalysts that’ll help re-accelerate growth and drive material incremental margin when rates improve, and demand comes back.