Jefferies Cuts Wayfair Price Target By 40%

Jefferies analyst Jonathan Matuszewski lowered the price target on Wayfair Inc W to $149 from $247, implying a 1% upside, and kept a Hold rating on the shares.
The move comes after Matuszewski's web traffic review that led him to cut his Q4 sales forecast by about 3%.
The analyst now sees an EBITDA loss versus a profit given his finding of more new versus existing visitors, which should hit ad expenses.
He is also revisiting the stock's valuation, given his expectation for "more sober" 2022 guidance that he sees forthcoming from Wayfair.
Price Action: W shares are trading higher by 1.24% at $147.53 on the last check Monday.

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