Raymond James lowered the firm’s price target on Wayfair (W) to $55 from $60 and keeps a Strong Buy rating on the shares following the Q1 earnings report. The lowered price target reflects multiple compression across the entire specialty retail sector, the analyst tells investors in a research note. Wayfair’s marketplace model provides flexibility from a sourcing perspective, leaving it at a relative advantage versus other pure play furniture retailers, the firm says.
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Read More on W:
- 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
- Wayfair’s Solid Q1 Performance Overshadowed by Macroeconomic Uncertainties and Revenue Visibility Concerns
- Wayfair price target raised to $32 from $30 at Citi
- Wayfair’s Market Position: Balancing Strong Revenue Growth with Future Uncertainties
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