Jefferies Maintains a 'Buy' on Williams-Sonoma (WSM); Positive Mgmt Meeting

March 21, 2012 7:20 AM EDT
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Price: $49.45 --0%

Rating Summary:
    13 Buy, 22 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 3 | New: 2
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Jefferies maintains a 'Buy' on Williams-Sonoma (NYSE: WSM) price target of $42.00.

Analyst, John Marrin, said, "Last night's sell-side meeting with management in NYC only strengthened our confidence in our Buy rating. While nothing new was disclosed analytically, we did get a substantial amount of interesting color around various operating initiatives and growth opportunities."

"The following are our key takeaways: 1) Plenty of opportunities for growth within the brands; 2) West Elm - Jim Brett, President of West Elm, gave a strong presentation on his business segment; 3) Pottery Barn Kids - this brand isn't viewed as a growth driver at this point, but at 14% of sales last year, it does represent a substantial portion of the mix; and 4) Pbteen - at 5.7% of sales last year, this brand has historically served the 10-year old through young teens market, but the company spoke yesterday about moving into the upper teens and into the dorm room."

For an analyst ratings summary and ratings history on Williams-Sonoma click here. For more ratings news on Williams-Sonoma click here.

Shares of Williams-Sonoma closed at $38.54 yesterday.

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