In a report published Wednesday, Citigroup reiterated its Buy rating on Williams-Sonoma WSM, and raised its price target from $42.00 to $45.00.
Citigroup noted, “The Williams Sonoma banner improved notably during the quarter and we think the company is positioning itself well for the Williams Sonoma banner comp to inflect positively by Q4 with new exclusive product, better merchandising and marketing. We reiterate our Buy rating on: 1) ongoing product differentiation & merchandising sales lift, 2) accretive impact of mix shift towards DTC (~$0.02-$0.04/yr in OM% lift contribution), 3) an attractive LT runway for international growth, and 4) a strong balance sheet with increasing cash returns to shareholders in the form of share repurchases and dividends.”
Williams-Sonoma closed on Tuesday at $38.23.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in