Williams-Sonoma Holds Onto An Outperform Rating At Oppenheimer On Long-Term Outlook
On Wednesday after the market close, Williams-Sonoma, Inc. (NYSE: WSM) reported earnings mirroring analyst estimates but missed on revenues and comparable sales. In addition, company management’s weak forecasts spooked investors.
Oppenheimer’s Brian Nagel viewed Williams-Sonoma weak Q2 earnings report as a result of a “challenging macro backdrop and potential merchandising shortcomings at the chain’s leading brands.”
The analyst remained encouraged with shares eventually shaking off Q2 weakness but was concerned with furnishings category in the near term.
Long-Term Recovery Incoming
Nagel still believed dissipating pressures from West coast port distributions would “fuel a rebound” in revenues and EPS trends. Due to Oppenheimer’s long-term optimism on Williams-Sonoma, Nagel maintains the company’s outperform rating and $65.00 price target.
According to TipRanks, Brian Nagel has a 58 percent success rating and a +5.7 percent average return per recommendation. The analyst is ranked 192 out of 4,127 analysts.
At time of writing, Williams-Sonoma traded at $55.77, up 3.01 percent on the day.
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|Jan 2017||Loop Capital||Initiates Coverage On||Hold|
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