Jefferies upgraded Williams-Sonoma to Hold from Underperform with a price target of $144, up from $116. The company’s September looks better than August, with web traffic accelerating on a 1- and 2-year basis and promotions controlled, the analyst tells investors in a research note. As such, the firm sees minimal risk to Williams-Sonoma’s second half of 2023 guidance, saying downside catalysts are “hard to find.”
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