UPDATE: JP Morgan Raises PT to $43 on Williams-Sonoma

A report from J.P. Morgan reiterates its Neutral rating and raises its price target from $37 to $43 on Williams-Sonoma (NYSE: WSM).

The report states, “We are encouraged by WSM's comp momentum heading into the key holiday period at retail and the continued growth of the dotcom business (up 15% in 3Q). However, we remain cautious on 4Q earnings risk given sluggish trends within the all important Williams-Sonoma brand, which we believe accounts for the majority of the sequential increase in total company sales from 3Q and 4Q.”

WSM closed yesterday at $36.94.