Williams-Sonoma price target raised to $290 from $220 at Loop Capital

Loop Capital raised the firm’s price target on Williams-Sonoma to $290 from $220 and keeps a Hold rating on the shares. The analyst cites the company’s better-than-expected revenues, operating margin expansion, a sizable beat to consensus earnings expectations, a hefty dividend raise, and bullish FY24 guidance, noting that the management “continued to prove the bears wrong”. Loop adds however that following a 42% jump in the stock price, the upside potential and downside risk for Williams-Sonoma are “fairly balanced”.