SunTrust Robinson Humphrey Reiterates Buy Leading up to Williams-Sonoma (WSM) Q1 Report
SunTrust Robinson Humphrey reiterates a Buy rating and $91 price target on Williams-Sonoma (NYSE: WSM) leading up to 1Q release. David Magee expects the results to be in-line with estimates, given port headwinds. WSM is scheduled to release its Q1 report on May 20th, after market close.
Magee commented on WSM, saying, "We estimate EPS of $0.46, which is $0.02 ahead of the Street mean, and a penny above the mid-point of the guidance range ($0.40-$0.50). Our estimate assumes comp brand revenue growth of 2.7%, slightly below the consensus of 3.1%. We estimate low-single digit comp growth across most of the brands, with the exception of West Elm (+10%) which continues to benefit from ongoing store expansion, and WSM (-1%) which was likely impacted by tough comparisons of a year ago."
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Shares of Williams-Sonoma closed at $78.35 yesterday.
