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UPDATE: Bank of America Upgrades Williams-Sonoma to Buy on Growth Drivers, Housing Tailwind

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Bank of America raised its rating on Williams-Sonoma (NYSE: WSM) from Underperform to Buy and increased its price objective from $35 to $50.

Bank of America said, "Justifying its higher investments of the last two years, multiple new brand and product growth drivers – arguably the most innovation seen from the company since West Elm was launched in 2003 - are starting to become visible and we believe can increasingly be leveraged as new businesses begin to contribute. With housing also becoming a tailwind, we expect earnings growth to accelerate in the next two years, with EPS growth forecast at 13% and 15% in 2013 and 2014, respectively."

Williams-Sonoma closed at $43.23 on Friday.

Latest Ratings for WSM

DateFirmActionFromTo
May 2017Gordon HaskettInitiates Coverage OnAccumulate
Mar 2017William BlairDowngradesOutperformMarket Perform
Feb 2017Telsey Advisory GroupDowngradesMarket Perform

View More Analyst Ratings for WSM
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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