Piper Jaffray Upgrades Williams-Sonoma (WSM) to Buy

Piper Jaffray upgrades Williams-Sonoma (NYSE: WSM) from Neutral to Buy with a $15 price target ahead of its presentation at the Piper Jaffray Consumer conference tomorrow.

The firm said, "the company is appropriately focused on gaining share longer term through an expanded focus on Internet retailing, which we believe has been largely misunderstood by investors."
Piper also said they incrementally encouraged by the company's ability to effectively target new customers in this environment through expanded marketing and its strong portfolio of brands which remain top-of-mind with consumers in their respective categories will likely help garner market share longer term.

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