Goldman Sachs upgraded Williams-Sonoma to Neutral from Sell with a price target of $263, up from $154, following the Q4 report. The company has been able to sustain higher margins, and trends came in better than expected for both Q4 and the guidance for 2024, the analyst tells investors in a research note. The firm says that although furniture demand is unlikely to improve until housing turnover resumes, Williams-Sonoma expects to sustain its current operating margin even with another year of negative comps in fiscal 2024.
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