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Wayfair price target lowered to $40 from $48 at Stephens
The Fly

Wayfair price target lowered to $40 from $48 at Stephens

Stephens lowered the firm’s price target on Wayfair to $40 from $48 and keeps an Equal Weight rating on the shares after reducing the firm’s FY23 adjusted EBITDA estimate to reflect lower revenues given a soft start to the year. A mid-single-digit adjusted EBITDA margin is still targeted to represent a go-forward lower bound, said the firm, which estimated that a 5% adjusted EBITDA margin on its FY24 revenue estimate would yield about $655M in annual EBITDA.

Published first on TheFly

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