Piper Jaffray Raises Price target on Williams-Sonoma (WSM) Following In-Line EPS

Piper Jaffray reiterated a Neutral rating on Williams-Sonoma (NYSE: WSM), and raised the price target to $87.00 (from $82.00), following the company's 2Q15 earnings report. EPS of $0.58 met consensus expectations and guidance for the year was reiterated. Analyst Neely Tamminga believes WSM is the market leader in all things-home and on a path to double revenues and expand their margins across multiple brands, platforms and geographies.

Tamminga commented, "We are adjusting our estimates on the heels of WSM's report in which EPS of $0.58 met consensus expectations and guidance for the year was reiterated. Strength at West Elm helped the positive momentum experienced in the quarter what with a +15.7% comp gain experienced in the quarter, but the weakness in the core WS kitchen brand of (0.3%) may cause investors to pause on what had been a string of positive comps in that division for the past 7 quarters. Longer-term, we believe WSM is the market leader in allthings-home and on a path to double revenues and expand their margins across multiple brands, platforms and geographies. That said, with shares trading near our price target, we reiterate our 12-month Neutral rating."

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 $83.12 yesterday.

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