Wedbush raised the firm’s price target on Williams-Sonoma to $175 from $150 and keeps a Neutral rating on the shares. Williams-Sonoma’s Q3 results missed consensus estimates on the top line, but sharply exceeded on EPS and margins while it reduced its FY23 top line outlook, the analyst tells investors in a research note. While demand was worse than expected, margins were much better than expected, and lend credence to the company’s claims that is now a far more efficient and disciplined company than past down-cycles would have suggested, the firm argues.
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Read More on WSM:
- Williams-Sonoma price target raised to $146 from $123 at Barclays
- Williams-Sonoma cuts FY23 revenue view to down 10%-12% from down 5%-10%
- Williams-Sonoma reports Q3 EPS $3.66, consensus $3.33
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- Is WSM a Buy, Before Earnings?
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