Williams-Sonoma (WSM) PT Raised to $280 at Jefferies
Jefferies analyst Jonathan Matuszewski raised the price target on Williams-Sonoma (NYSE: WSM) to $280.00 (from $160.00) while maintaining a Hold rating.
The analyst comments "Lingering inflation is pressuring discretionary spend & housing turnover is bleak, but leadership's profit preservation has been stellar with just ~110 bps of EBIT% compression on (10%) comps in '23. At the high-end, C'24 EBIT% is slated to be just ~90 bps shy of peak margins clinched during the furniture boom in '21. A weak housing backdrop could introduce downside to guidance, but valuation is our main hurdle. Reiterate Hold."