UPDATE: Morgan Stanley Upgrades Williams-Sonoma to Overweight, Names $54 PT
In a report published Monday, Morgan Stanley upgraded its rating on Williams-Sonoma (NYSE: WSM) from Equal-Weight to Overweight, and named a $54.00 price target.
Morgan Stanley noted, “Improvement in the Williams-Sonoma brand in our quarterly AlphaWise survey gives us growing conviction in upside to estimates, and we are 4% above consensus in ‘13. We see WSM emerging as an attractive growth story, with EPS growth of 15-18% and FCF/share growth of 20-24% in '13-‘15e.”
Williams-Sonoma closed on Friday at $45.26.
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