Baird lowered the firm’s price target on Williams-Sonoma to $130 from $140 and keeps a Neutral rating on the shares. The analyst said earnings on the positive front, its strong balance sheet, robust FCF and proven SG&A flexibility provide a real P&L cushio amid an increasingly challenging macro backdrop. However, the deteriorating demand environment suggests guidance for less top-line pressure in the 2H could prove optimistic.
Published first on TheFly
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