Williams-Sonoma price target raised to $340 from $320 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Williams-Sonoma to $340 from $320 and keeps an Outperform rating on the shares. The company recently hosted investor meetings, which largely focused on the following themes: health of its consumer, drivers of long-term guidance, structural changes, the flexibility in the business model, and the remaining levers to get to a high-teens operating margin, the analyst tells investors. The firm left the meetings confident the company can achieve its 2024 guidance with potential upside. Beyond 2024, Telsey believes the company’s portfolio is well positioned for growth.