Wells Fargo analyst Zachary Fadem raised the firm’s price target on Williams-Sonoma to $290 from $240 and keeps an Equal Weight rating on the shares following quarterly results. Considering quarter-over-quarter comp improvement, sustaining positive double digits percentage margins and inline 2024 outlook, Williams-Sonoma’s outperformance shouldn’t surprise, the firm says. The 2024 guide likely has wiggle room, but to argue for more upside, Williams-Sonoma needs to break historical price to earnings peaks, Wells adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on WSM:
- Notable companies reporting before tomorrow’s open
- Williams-Sonoma price target raised to $265 from $215 at Telsey Advisory
- Williams-Sonoma price target raised to $261 from $165 at RBC Capital
- WSM Upcoming Earnings Report: What to Expect?
- Williams-Sonoma price target raised to $280 from $230 at Wedbush
