Wayfair price target lowered to $80 from $100 at DA Davidson

DA Davidson lowered the firm’s price target on Wayfair to $80 from $100 and keeps a Buy rating on the shares. The company’s profitability for Q3 was better than the consensus estimates and the firm’s projections, thoughsales were lower than the consensus, the analyst tells investors in a research note. The firm’s price target is due to updated near-term sales and profitability projections as well as rising interest rates.