Williams-Sonoma price target raised to $150 from $120 at Wedbush

Wedbush raised the firm’s price target on Williams-Sonoma to $150 from $120 and keeps a Neutral rating on the shares. Williams-Sonoma’s Q2 results missed consensus forecasts on the top line, but beat on margins and EPS, while lowering its FY23 top line outlook and raising margin guidance to net to a similar EPS outlook, the analyst tells investors in a research note. While demand was worse than expected, margins were much better than expected, leading to confidence in the company’s claims that it is now a more efficient and disciplined company than past downcycles would have suggested, the firm says.