Jefferies Boosts Target on Williams-Sonoma (WSM) Post-Q3, 'Weakness will be Short Lived'

Jefferies reiterated its Buy rating and raised its price target on Williams-Sonoma (NYSE: WSM) from $48 to $52 despite Q3 results and Q4 guidance that was shy of the Street.

The firm comments, "Below-consensus guidance on 4Q put pressure on the shares after hours, but we think the weakness may be short lived as 3Q results strengthen investors' confidence in margin outperformance going forward. Macro uncertainties and disruption from Sandy justify the conservative guide, but we continue to see the opportunity for a meaningful beat on EPS this quarter."

FY12 EPS estimates go from $2.62 to $2.63.

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 $45.11 yesterday.

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