BMO Capital analyst Brian Pitz lowered the firm’s price target on Wayfair (W) to $38 from $55 and keeps a Market Perform rating on the shares after its Q1 results and guidance. The company is adjusting to tariff changes with CastleGate Fulfillment and the adoption of incremental advertising, the analyst tells investors in a research note. Supply levels are currently healthy, but the outlook remains dynamic due to the changing tariff environment, BMO adds.
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