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Fly News Breaks for August 9, 2016
W
Aug 9, 2016 | 13:47 EDT
Raymond James analyst Aaron Kessler believes the tougher comps being faced by Wayfair largely explains the modest upside to consensus expectations that it reported for Q2 and its guidance coming in a bit below Street expectations. While EBITDA remains pressured this year due to investments in new initiatives, Kessler expects to see more meaningful leverage in 2017 as expense growth slows, he tells investors. The firm keeps an Outperform rating and $48 price target on Wayfair shares, which are down nearly 19% to $39.22 in afternoon trading.
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