Morgan Stanley trims Wayfair price target, sees ‘attractive entry point’

Morgan Stanley lowered the firm’s price target on Wayfair (W) to $128 from $140 and keeps an Overweight rating on the shares. Elevated near-term expectations meeting a “plateau” in demand resulted in a 13% pullback post-earnings, but the firm views this as creating “an attractive entry point,” the analyst tells investors. Wayfair remains a long-term share gainer supported by its value proposition, customer and vendor experience, and leading position in agentic commerce, the analyst contends.