RBC Capital analyst Steven Shemesh raised the firm’s price target on Williams-Sonoma to $150 from $143 and keeps an Outperform rating on the shares. The company’s Q2 earnings beat serves as evidence that its management has greater control over margins than currently appreciated, the analyst tells investors in a research note. Bears may need to reconsider the degree of downside risk, which should result in consensus estimates coming higher, RBC added, also boosting its FY23 EPS view by 67c to $13.97 and his FY24 view by 66c to $14.95.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on WSM:
- Williams-Sonoma price target raised to $150 from $120 at Wedbush
- Williams-Sonoma price target raised to $160 from $155 at TD Cowen
- Williams-Sonoma price target raised to $150 from $120 at Wells Fargo
- Williams-Sonoma upgraded to Neutral at BofA after Q2 margin beat
- Williams-Sonoma upgraded to Neutral from Underperform at BofA