Wayfair cut to Sell at Loop Capital on tariff-related uncertainty

As previously reported, Loop Capital downgraded Wayfair (W) to Sell from Hold with a $35 price target The stock rallied 20% Monday after China tariffs were cut from 145% to 30%, but the firm’s downgrade is driven by uncertainty related to tariffs, the analyst tells investors in a research note. The market is pricing in a much lower tariff for Vietnam than the original “reciprocal” rate of 46%, and most investors believe the rate will be well below the China rate, but there is so much uncertainty around tariffs that the firm recommends investors avoid Wayfair’s stock, Loop added.