Wayfair price target lowered to $70 from $86 at Jefferies

Jefferies lowered the firm’s price target on Wayfair (W) to $70 from $86 and keeps a Hold rating on the shares. Share gains remain “robust” and the prospects of AI accelerating the pace of Wayfair’s growth initiatives is “compelling,” but the firm sees the stock as range-bound in the near-term as key margin drivers are understood, the analyst tells investors.