Analysts See Growth Opportunities for Williams-Sonoma (WSM)

By Staff,

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Canaccord Genuity analysts maintained a "Buy" rating for Home goods retailer, Williams-Sonoma, Inc.( WSM ), and commented on the company's future growth opportunities on Monday.

An analyst from the first has reaffirmed a "Buy" rating, and a $55 price target for the company. This price target suggests a 19% increase from the stock's current price of $44.28.

Analysts believe that investors are not appreciating the growth opportunities that the company has in their e commerce business.

Laura Champine, an analyst for the firm commented, "internet sales grew 14% yr./yr. in Q1-Q3 versus 4% growth in the retail segment, and we expect the segments to increase at similar rates, respectively, on an annual basis over the next five years"

Champine also noted, "WSM is dominant in the home furnishings category online, and we believe the company is protecting its position with product exclusivity and more effective marketing," she pointed out, adding that the stock was a "top pick".

Williams-Sonoma shares were mostly flat during premarket trading Monday. The stock is up 15% YTD.

The Bottom Line
Shares of Williams-Sonoma ( WSM ) have a 1.99% dividend yield, based on Monday's closing stock price of $44.28. The stock has technical support in the $41-$44 price area. The stock is trading near its all-time highs of $48 a share.

Williams-Sonoma, Inc.( WSM ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: WSM

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