Williams-Sonoma price target raised to $155 from $125 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Williams-Sonoma to $155 from $125 and keeps an Underweight rating on the shares. The firm’s view on the stock “has not worked” as margins are being well-managed and EBIT margins may not contract as severely after a “large” Q3 beat and raised FY23 guidance, the analyst tells investors. However, the firm stills sees a negative bull/bear skew given what it calls a “full valuation” and remaining downside risk to FY23-FY25 EPS.