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Fly News Breaks for March 27, 2019
W
Mar 27, 2019 | 08:49 EDT
DA Davidson analyst Tom Forte kept his Underperform rating and $60 price target on Wayfair, saying that while its plans to open its first physical retail store later his year is positive for its potential to expand its total addressable market, he continues to see the stock price as "significantly over-valued at current levels." The analyst notes that he would reconsider his Underperform rating if Wayfair can "scale back its investment spending while maintaining its elevated sales growth".
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