Deutsche Bank analyst Kunal Madhukar lowered his price target for Wayfair to $160 from $175 saying that while the Q2 results were strong, the outlook was weaker than expected. Wayfair, however, is rightfully taking a longer-term approach to the market, Madhukar tells investors in a research note. He thinks "further pains" from the tariffs, the prospect of declining margins, and the potential need for further capital if disciplined growth does not pick up are already reflected in the lower stock prices. As such, the analyst keeps a Buy rating on Wayfair.