Wayfair price target lowered to $75 from $105 at BofA

BofA lowered the firm’s price target on Wayfair (W) to $75 from $105 and keeps a Buy rating on the shares. Furnishing spending improved from Q2 to Q3, but BofA expects mixed earnings results from the internet furnishings retailers, the analyst tells investors in a group preview note. While Q4 guidance “may underwhelm,” the firm believes this is largely priced in given that shares of Wayfair, Etsy (ETSY), Overstock.com (OSTK) and RH (RH) are down from 8% to 37% since September 1, the analyst added.