Williams-Sonoma price target raised to $186 from $167 at BofA

BofA raised the firm’s price target on Williams-Sonoma to $186 from $167 and keeps a Neutral rating on the shares. A positive margin surprise drove EPS despite a top line miss in Q3, notes the analyst, who is raising 2023-25 estimates “slightly” to reflect Williams-Sonoma’s earnings beat. However, the firm reiterates its Neutral rating given its cautious outlook for demand as it still expects a challenging industry backdrop over the next several quarters.