Williams-Sonoma price target raised to $165 from $150 at RBC Capital

RBC Capital raised the firm’s price target on Williams-Sonoma to $165 from $150 and keeps an Outperform rating on the shares. The company reported another sales miss but operating margin beat as its management is sticking to its plans of employing a less promotional strategy and effectively managing costs through a challenging macro environment, the analyst tells investors in a research note. It will inevitably become harder to maintain these operating margin levels in 2024 if comps remains depressed, but easing freight costs and supply chain efficiencies should provide somewhat of a buffer, the firm added.