Wedbush downgraded Williams-Sonoma (WSM) to Neutral from Outperform with a price target of $135, down from $150. The firm cites limited margin drivers and a “weak” sales outlook for the downgrade. While Williams-Sonoma “seemingly de-risked” its outlook when it reduced fiscal 2024 guidance in conjunction with the Q2 results, trends have deteriorated in recent months despite easier comparisons, the analyst tells investors in a research note. Wedbush has become “more concerned” that the company’s market share gains could prove more difficult in the coming quarters, the industry’s recovery is being pushed out, and its margin expansion opportunities are more limited. In addition, potential additional tariffs are a risk, it says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on WSM:
- Williams-Sonoma downgraded to Neutral from Outperform at Wedbush
- Telsey names its Holiday 2024 Top Picks
- Williams-Sonoma management to meet with Telsey Advisory
- Jefferies retail/consumer analysts hold an analyst/industry conference call
- Williams-Sonoma CEO sells $5.81M in common stock
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
