Piper Jaffray analyst Neely J.N. Tamminga reiterated an Overweight rating and $85 price target on Williams-Sonoma (NYSE: WSM) amid disappointing Q2 results after the close and the corresponding 10% sell-off in the stock.

Tamminga is encouraging investors to consider adding to their WSM positions or creating new ones given this unique opportunity in the stock price.

"Simply stated, WSM is the tech-savvy retailer for all-things-home and is among the better positioned to weather traffic headwinds and increased promotional activity. With their direct-to-consumer revenues tracking to $2.5B this year and representing more 50% of the company's total sales, eCommerce and all the related accouterments that go with a savvy eCommerce business (i.e., data analytics, personalization, friction-less commerce), WSM is among the better positioned home retailers (let alone all retailers) for what will likely be yet another promotional holiday season."

The firm trimmed FY 2015 EPS from $3.16 to $3.15 and maintained FY 2016 at $3.56.

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 $74.89 yesterday.