Wells Fargo analyst Zachary Fadem lowered his price target for At Home to $25 from $30 following its ICR update that featured a bit of good news, a dose of disappointment, but also an opportunity for management to refresh investors on its strong long-term growth story. With the Q4 hurdle out of the way, focus shifts to a FY20 shaping up to be noisier than previously thought, he contents. While EPS declines for a growth company is clearly not ideal, Fadem believes At Home's core business is largely unchanged, and argues that near-term confusion creates opportunity, with the company's long-term algorithm still intact, a cleaner event path ahead, and shares trading 50% below high growth retail peers. He reiterates an Outperform rating on the shares.