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.