Truist lowered the firm’s price target on Wayfair to $65 from $70 but keeps a Buy rating on the shares. The firm’s Truist Card Data shows softening demand for Home Decor & Furnishing products for the company and the category at large, though Wayfair’s aggressive action to further reduce its operating expense through a 13% reduction in its workforce in January should help strengthen the company’s operational execution, protect free cash flows and improve margins, the analyst tells investors in a research note.
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Read More on W:
- Wayfair says Decorify App now available on Apple Vision Pro
- Wayfair’s recent layoffs focused on employees working remotely, WSJ says
- Wayfair price target raised to $60 from $45 at Loop Capital
- Wayfair price target raised to $70 from $67 at Truist
- Wayfair price target raised to $58 from $52 at TD Cowen