Williams-Sonoma price target raised to $146 from $123 at Barclays

Barclays raised the firm’s price target on Williams-Sonoma to $146 from $123 and keeps an Underweight rating on the shares. The company’s Q3 surprised with weaker sales but stronger margins, the analyst tells investors in a research note. The firm says this composition is not new, but the magnitude of the margin upside was just greater. While some benefits will wrap into fiscal 2024, Barclays struggles with the sustainability as top line trends weaken. the analyst adds.