Wayfair price target lowered to $40 from $70 at Barclays

Barclays lowered the firm’s price target on Wayfair to $40 from $70 and keeps an Equal Weight rating on the shares. The company’s sales are improving as market share gains accelerate, but it is still battling a difficult demand backdrop along with what may be a more competitive scenario ahead, the analyst tells investors in a research note.