Wayfair price target lowered to $75 from $105 at Stephens

Stephens lowered the firm’s price target on Wayfair to $75 from $105 and keeps an Overweight rating on the shares. The company reported a return to adjusted EBITDA profitability in Q2 and a return to sales growth in Q3, but at a slower-than-expected growth rate, the analyst tells investors. Current 4Q-to-date gross revenue is trending near flat year-over-year and Stephens believes the company’s current guidance incorporates expectations for a promotional holiday period facing potentially soft consumer demand, the firm says.