Wells Fargo Downgrades Williams-Sonoma (WSM) to Market Perform; CFO/COO Departure Adds Risk

March 9, 2012 7:22 AM EST
Get Alerts WSM Hot Sheet
Price: $48.05 -4.24%

Rating Summary:
    13 Buy, 22 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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Wells Fargo downgraded Williams-Sonoma (NYSE: WSM) from Outperform to Market Perform, price target range lowered from $42-44 to $34-37.

Wells analyst says, "While we like Williams-Sonoma's high mix of direct sales and private label merchandise as well as the company's large customer database and sophisticated targeted marketing, this is balanced by risks stemming from recent management changes, incremental investments that will pressure earnings growth, and competitive and promotional pressures at the Williams-Sonoma brand...We reduce our FY2012E EPS from $2.51 to $2.42 and
FQ1E from $0.32 to $0.29."

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 $35.62 yesterday.

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