Williams-Sonoma price target raised to $194 from $156 at Jefferies

Jefferies raised the firm’s price target on Williams-Sonoma (WSM) to $194 from $156 and keeps a Buy rating on the shares. Beyond the “impressive headline EPS beat,” the firm sees “several positive nuggets embedded” in Q3 results, including mid-single digit percentage growth in Trade, high-teens growth in Contract, a new peak in customer service levels, and management optimism in managing potentially elevated tariffs. Retail peers have been rallying on the theme of “less-worse furniture category trends,” but “the shining star in today’s print” from Williams-Sonoma was “largely internal,” namely its disciplined margin maximization efforts, the analyst tells investors.