Williams-Sonoma price target lowered to $201 from $224 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Williams-Sonoma (WSM) to $201 from $224 and keeps a Neutral rating on the shares after its Q4 results. The firm is updating its model to reflect the ongoing pressure on the industry with no material improvement in the housing market and a lower market multiple of 21.7-times vs. 22.4-times prior, the analyst tells investors in a research note. The stock is also trading above its historical average at 19.4-times next-twelve-months’ earnings vs. its 3-year/5-year average of 13.1 and 14.2-times, the firm adds.