UPDATE: Piper Sandler Downgrades Wayfair (W) to Neutral

Piper Sandler analyst Peter Keith downgraded Wayfair (NYSE: W) from Overweight to Neutral with a price target of $65.00 (from $200.00).

The analyst comments "Downgrading W to Neutral, lowering our PT to $65. While we acknowledge tardiness to the rating change (shares -64% YTD), we can no longer defend shares due to the following: (1) Sales outlook and market share dynamics uncertain; (2) EBITDA losses for 2022 could be meaningful; (3) Negative FCF for 2022 looks likely as CapEx steps up."

For an analyst ratings summary and ratings history on Wayfair click here. For more ratings news on Wayfair click here.

Shares of Wayfair closed at $90.76 yesterday.

You May Also Be Interested In

• CreditAccess Grameen Ltd (CREDAG:IN) PT Raised to INR1,300 at ICICI Securities
• HCL Technologies (HCLT:IN) PT Raised to INR950 at UBS
• Shree Cement Ltd (SRCM:IN) PT Lowered to INR17,330 at JPMorgan