Morgan Stanley analyst Simeon Gutman upgraded Williams-Sonoma to Equal Weight from Underweight with a price target of $270, up from $155, following the Q4 report. The firm says it underappreciated Williams-Sonoma’s ability to hold its margin even in a weaker demand environment. The company’s mid- to high-teens EBIT margin over time could hold based on pricing discipline and a potential category rebound, the analyst tells investors in a research note.
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