Williams-Sonoma (WSM) Shares Push Lower Following BofA Downgrade to Underperform

Shares of Williams-Sonoma (NYSE: WSM) are dipping in early-morning trade Thursday as an analyst at BofA Merrill Lynch just downgraded the stock from Neutral to Underperform. The lowered investment rating follows Q4 results and guidance from the company this morning. The firm's price target on the stock was lowered from $42 to $33.

While the stock had been down nearly 2 percent ahead of the BofA downgrade, shares are now down more than 4 percent on the heels of the analyst call. The new price target represents potential downside of about 9 percent from where the stock is currently trading.

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

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