Wayfair price target lowered to $50 from $58 at TD Cowen

TD Cowen analyst John Blackledge lowered the firm’s price target on Wayfair to $50 from $58 and keeps a Market Perform rating on the shares. The company’s Q4 revenue came in roughly in line with consensus, supported by active customer growth, while EBITDA missed on continued category headwinds, the analyst tells investors in a research note. The firm reduced estimates following the report.