Loop Capital lowered the firm’s price target on Wayfair to $60 from $65 and keeps a Sell rating on the shares. The firm is assigning a more conservative margin outlook for the company, the analyst tells investors in a research note, also stating that growth at Wayfair is funded by debt and the cost of debt has increased significantly. Organic sales trend for home goods continues to decline following the Covid-related boom, and it is unclear when home furnishings will be a growth industry again, Loop Capital added.
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