Needham lowered the firm’s price target on Wayfair (W) to $40 from $50 but keeps a Buy rating on the shares. The analyst notes the company’s better than expected results but also sees the beat primarily driven by margins through lower SOTG&A expense from earlier than expected benefits of the announced tech restructuring. Needham adds that the overall category continues to be pressured and uncertainty is still at the highs.
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Read More on W:
- Wayfair price target raised to $40 from $36 at Truist
- Wayfair price target lowered to $38 from $55 at BMO Capital
- Wayfair price target lowered to $55 from $60 at Raymond James
- Wayfair price target lowered to $35 from $45 at Bernstein
- Wayfair’s Resilience and Growth Potential: A Buy Rating Amid Strategic Initiatives and Market Challenges
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