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

Truist lowered the firm’s price target on Wayfair (W) to $53 from $55 but keeps a Buy rating on the shares. The company’s mixed Q4 results and Q1 guide show that the Home Furnishing category remains challenged amid a tough macro, requiring Wayfair to forgo some margin expansion in the near to to stimulate demand and build customer loyalty, the analyst tells investors in a research note. Wayfair’s sustained share gains and improved cost efficiencies of the last 2 years are “catalysts that will help re-accelerate growth”, the firm adds.