Williams-Sonoma price target raised to $123 from $115 at Barclays

Barclays raised the firm’s price target on Williams-Sonoma to $123 from $115 and keeps an Underweight rating on the shares. The analyst says the company’s Q2 included weaker sales but better margins. Sales guidance was lowered and “potentially de-risked” for the second half of 2023, although the company raised margins in an effort to protect the prior earnings guidance implied, the analyst tells investors in a research note. The firm believes this may keep questions lingering about Williams-Sonoma’s normalized earnings power from here.