UPDATE: Jefferies Downgrades Williams-Sonoma (WSM) to Underperform

Jefferies analyst Jonathan Matuszewski downgraded Williams-Sonoma (NYSE: WSM) from Hold to Underperform with a price target of $100.00 (from $160.00).

The analyst comments "As a discretionary retailer serving upper-middle income consumers whose EBIT% is 2x vs. '19 thanks in part to over-earning, we see WSM shares underperforming ahead of a softer macro. Based on recessionary category performance, JEF comps are cumulatively ~600 bps below Street through F'26. Based on rising promos, Street GM% is 50-60 bps too high in F'24 + F'25. d/ g to UNPF."

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 $117.61 yesterday.

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