Williams-Sonoma (WSM) PT Raised to $240 at Cowen; Top Pick Into Earnings

November 12, 2021 6:06 AM EST
Get Alerts WSM Hot Sheet
Price: $183.03 +3.13%

Rating Summary:
    11 Buy, 24 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 18 | New: 45
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Cowen analyst Max Rakhlenko raised the price target on Williams-Sonoma (NYSE: WSM) to $240.00 (from $220.00) while maintaining an Outperform rating, calling it a Top Pick into earnings.

"WSM is our pick into earnings as we see greater upside to Street's 3Q and FY21 estimates,and like a beat and raise set-up," Rakhlenko commented.

He added, "Shares have had a strong quarter, increasing +18% since2Q21 EPS, as valuation expanded +1x turn to 16x. 3Q Street estimates appear conservative, especially in light of strong industry data, and we raise 3Q21 sales to $2.03bn, +15% Y/Y,and +2.9% ahead of Street. We raise 3Q EPS estimate to $3.26, +6% ahead of Street's $3.08,and 4Q to $4.33, +3.7% ahead of Street. We do think the buy side is ahead of the sell side, which may result in a more muted stock reaction on strong results."

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change, Hot Comments

Related Entities

Cowen & Co, Earnings