Williams-Sonoma price target raised to $170 from $146 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Williams-Sonoma to $170 from $146 and keeps an Outperform rating on the shares. Expectations remain muted for home furnishings retailers; however, Williams-Sonoma continues to beat operating margin expectations, which should provide confidence in EPS estimates and, over time, support multiple expansion of the stock, the analyst tells investors. Once the macro backdrop normalizes, the firm expects the company to be well positioned to expand its B2B business.