UPDATE: Oppenheimer Downgrades Williams-Sonoma (WSM) to Perform
- Wall St. slips on President Trump's protectionist views
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative - Bloomberg
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- Qualcomm (QCOM) Thrashed as Apple (AAPL) Lawsuit Threatens Licensing Business Model
- McDonald's (MCD) Tops Q4 EPS by 3c
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
(Updated - October 26, 2016 10:17 AM EDT)
Oppenheimer downgraded Williams-Sonoma (NYSE: WSM) from Outperform to Perform and removed its price target (prior $65.00). Analyst Brian Nagel said difficulties are likely to persist.
"WSM has for a long while represented one of the preeminent omni-channel business models in Hardlines Retail. We continue to look favorably on longer term prospects for WSM. Nearerterm, we are increasingly concerned that ongoing merchandising shortcomings at Pottery Barn are apt to weigh on sales growth, particularly amid a more sluggish spending environment broadly and escalating competition within the home furnishings segment. WSM will report Q3 (Oct.) results in mid-to-late November. Street forecasts for WSM still seem too optimistic. Shares now trade at a multi-year low valuation. That said, we are hardpressed to envision WSM moving meaningfully higher until the chain begins to again consistently top expectations," said the analsyt.
Shares of Williams-Sonoma closed at $46.68 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
- UPDATE: Wells Fargo Downgrades Verizon Communications (VZ) to Market Perform
- Xilinx (XLNX) PT Raised to $55 at Deutsche Bank Ahead of 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!