BofA lowered the firm’s price target on Williams-Sonoma to $108 from $114 and keeps an Underperform rating on the shares after the company reported Q4 comps that declined 0.6%, which was below the firm’s estimate for 1.7% growth and consensus call for comps to be up 4.1%. The firm believes the company’s back-half weighted guidance "doesn’t look achievable" and argues that a demand pull-forward "sets up for a challenging 2023."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on WSM:
- Williams-Sonoma price target lowered to $130 from $140 at Baird
- Williams-Sonoma increases quarterly dividend, stock buyback program
- Williams-Sonoma sees FY23 revenue down 3% to up 3%, consensus $8.82B
- Williams-Sonoma reports Q4 EPS $5.50, consensus $5.46
- Williams-Sonoma price target raised to $115 from $110 at Wedbush
