Wedbush raised the firm’s price target on Williams-Sonoma (WSM) to $175 from $135 and keeps a Neutral rating on the shares. The firm notes the company reported Q3 results that beat consensus forecasts on the top- and bottom lines. The company increased FY24 comp and margin guidance by more than the Q3, beat while it also announced a new $1B buyback authorization after repurchasing about $530M worth of shares in Q3. The magnitude of the margin improvement seemingly dispelled increasing doubts on Williams-Sonoma’s ability to continue expanding margins against a soft category demand backdrop.
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Read More on WSM:
- Williams-Sonoma price target raised to $180 from $145 at Loop Capital
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