UPDATE: ISI Group Downgrades Williams-Sonoma to Hold on Risk-Reward

ISI Group reduced its rating on Williams Sonoma WSM from Buy to Hold. ISI Group commented, "We are downgrading WSM from a Buy to a Hold. The 40%+ move in the share price over the past year has brought the stock back to an appropriate premium to Bed Bath & Beyond (up just 8%). This makes the risk-reward more balanced, especially as the $200m capex trend appears likely to persist to maintain HSD growth." Williams-Sonoma closed at $43.58 on Wednesday.