Deutsche Bank Reiterates Buy Rating, $49 PT on Williams-Sonoma Ahead of 4Q Results

In a report published Monday, Deutsche Bank analyst Mike Baker reiterated a Buy rating and $49.00 price target on Williams-Sonoma

. In the report, Baker noted, “Heading into the 4th quarter results, we believe the focus will be on WSM's ability to beat what originally looked like conservative guidance, as well as the 1Q and 2013 initial guidance. Gross margins will be of particular focus. We maintain our Buy rating and $49 price target based on 15x our 2014 estimate, in line with our 15% long term EPS growth rate forecast. The biggest risk is incremental gross margin concerns from a promotional environment in home furnishings.” Williams-Sonoma closed on Friday at $45.01.