Williams-Sonoma price target raised to $190 from $165 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Williams-Sonoma (WSM) to $190 from $165 and keeps an Outperform rating on the shares. The company beat Q3 expectations raised the low end of its 2024 sales guidance, and announced a new $1B share repurchase authorization, the analyst tells investors. While the firm sees it difficult to predict the timing of a rebound in furniture demand given high mortgage rates, Scotiabank continues to view the company as well positioned to outperform in the current landscape given its diversified business across brands and product categories.