Wedbush Maintains Neutral Rating on Williams-Sonoma Ahead of 4Q Earnings
Wedbush Securities has published a research report on Williams-Sonoma (NYSE: WSM) ahead of the company's 4Q earnings results.
In the report, Wedbush writes, "We lowered our forecast from EPS of $1.20 and comps of 3.5% when the company cut guidance on January 12. Additionally, our channel checking team continued to see heavy discounting into February at the core W-S chain. Although store checks at PB were positive during Q4, our team received negative feedback on the new spring assortment during Q1 and found deeper discounting as a result."
Wedbush maintains its Neutral rating and $35 price target on Williams-Sonoma, which is currently trading down $0.54 from yesterday's $38.04 closing price.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.