Loop Capital lowered the firm’s price target on Wayfair (W) to $50 from $55 and keeps a Hold rating on the shares after its Q3 results and guidance. Lower interest rates will eventually flow through to home-related sales, and the firm is hopeful that we’ve just seen the first of several interest rate cuts, but that said, Q3 sales declined 3% compared to Loop’s estimate of a 1% decline, and the firm expects Wayfair to carefully manage overhead costs pending a recovery, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on W:
- Wayfair price target lowered to $50 from $58 at BMO Capital
- Wayfair price target lowered to $47 from $55 at Stifel
- Wayfair price target lowered to $45 from $50 at Wedbush
- Wayfair price target lowered to $46 from $69 at Deutsche Bank
- Wayfair price target lowered to $55 from $60 at Truist
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
