tiprankstipranks
Wedbush downgrades Williams-Sonoma with on deteriorating trends
The Fly

Wedbush downgrades Williams-Sonoma with on deteriorating trends

Wedbush downgraded Williams-Sonoma (WSM) to Neutral from Outperform with a price target of $135, down from $150. The firm cites limited margin drivers and a “weak” sales outlook for the downgrade. While Williams-Sonoma “seemingly de-risked” its outlook when it reduced fiscal 2024 guidance in conjunction with the Q2 results, trends have deteriorated in recent months despite easier comparisons, the analyst tells investors in a research note. Wedbush has become “more concerned” that the company’s market share gains could prove more difficult in the coming quarters, the industry’s recovery is being pushed out, and its margin expansion opportunities are more limited. In addition, potential additional tariffs are a risk, it says.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App