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UPDATE: Bank of America Upgrades Williams-Sonoma to Buy on Growth Drivers, Housing Tailwind

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Bank of America raised its rating on Williams-Sonoma (NYSE: WSM) from Underperform to Buy and increased its price objective from $35 to $50.

Bank of America said, "Justifying its higher investments of the last two years, multiple new brand and product growth drivers – arguably the most innovation seen from the company since West Elm was launched in 2003 - are starting to become visible and we believe can increasingly be leveraged as new businesses begin to contribute. With housing also becoming a tailwind, we expect earnings growth to accelerate in the next two years, with EPS growth forecast at 13% and 15% in 2013 and 2014, respectively."

Williams-Sonoma closed at $43.23 on Friday.

Latest Ratings for WSM

DateFirmActionFromTo
Jun 2016BTIG ResearchInitiates Coverage onSell
May 2016Topeka CapitalInitiates Coverage onBuy
May 2016SunTrust Robinson HumphreyMaintainsBuy

View More Analyst Ratings for WSM
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Posted-In: Bank of AmericaAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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