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Wayfair results ‘nowhere near as bad’ as selloff suggests, says Citi
The Fly

Wayfair results ‘nowhere near as bad’ as selloff suggests, says Citi

Citi analyst Ygal Arounian says Wayfair’s Q4 results "were nowhere near as bad" as the stock’s 23% selloff would indicate. The story "hardly changed relative to the cost-cutting news in January," the analyst tells investors in a research note. The firm notes that management sees a path to profitability accelerated. It remains confident in the cost initiatives and that "better days are ahead for Wayfair." It recommends buying the shares and keeps a Buy rating on the name with a $57 price target.

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