Wedbush Raises Price Target on Williams-Sonoma (WSM), Anticipates Q1 Comps Up 4%
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Price: $283.37 -0.6%
Rating Summary:
9 Buy, 27 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
9 Buy, 27 Hold, 7 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Wedbush is maintaining its Neutral rating on shares of Williams-Sonoma (NYSE: WSM), but is raising its price target from $38 to $44.
The company is expected to report its Q1 earnings May 10 before the stock market opens at 7:00 am PT. WSM released its Q1 guidance with an EPS range of $0.26-$0.28 with comps up 3%-5%. The firm is forecasting Q1 EPS of $0.26 on a 4% comp growth.
The firm comments that WSM continues to grow and see substantial benefits from its multi-channel strategy. It reports, "We expect ongoing customer service and cost-reduction benefits from distribution, transportation, packaging, and quality returns initiatives."
While the firm remains very favorable on the company’s longer-term prospects with its market-leading brands and multichannel distribution model, as well as positive current business trends leading to market share gains, Wedbush believes that shares are currently to expensive and is waiting for a more attractive entry point.
For more ratings news on Williams-Sonoma click here and for the rating history of Williams-Sonoma click here.
Shares of Williams-Sonoma closed at $43.35 yesterday.
The company is expected to report its Q1 earnings May 10 before the stock market opens at 7:00 am PT. WSM released its Q1 guidance with an EPS range of $0.26-$0.28 with comps up 3%-5%. The firm is forecasting Q1 EPS of $0.26 on a 4% comp growth.
The firm comments that WSM continues to grow and see substantial benefits from its multi-channel strategy. It reports, "We expect ongoing customer service and cost-reduction benefits from distribution, transportation, packaging, and quality returns initiatives."
While the firm remains very favorable on the company’s longer-term prospects with its market-leading brands and multichannel distribution model, as well as positive current business trends leading to market share gains, Wedbush believes that shares are currently to expensive and is waiting for a more attractive entry point.
For more ratings news on Williams-Sonoma click here and for the rating history of Williams-Sonoma click here.
Shares of Williams-Sonoma closed at $43.35 yesterday.
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