Williams-Sonoma price target raised to $175 from $150 at Wedbush

Wedbush raised the firm’s price target on Williams-Sonoma to $175 from $150 and keeps a Neutral rating on the shares. Williams-Sonoma’s Q3 results missed consensus estimates on the top line, but sharply exceeded on EPS and margins while it reduced its FY23 top line outlook, the analyst tells investors in a research note. While demand was worse than expected, margins were much better than expected, and lend credence to the company’s claims that is now a far more efficient and disciplined company than past down-cycles would have suggested, the firm argues.