What To Expect From Williams-Sonoma's Q2 Earnings? Analyst Sees Chance For Positive Surprise
Portfolio Pulse from Nabaparna Bhattacharya
Wedbush analyst Seth Basham has reiterated a Neutral rating on Williams-Sonoma, Inc. (WSM) with a price target of $120. Despite low investor expectations, Basham sees potential for an earnings beat in the company's Q2 2023 report due to tight expense management. However, sales pressures, particularly for the West Elm brand, are expected to continue. The analyst also expects WSM to reduce its FY23 revenue growth guidance by ~300 bps due to macro headwinds.
August 17, 2023 | 7:18 pm
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Williams-Sonoma, Inc. (WSM) may see a positive surprise in its Q2 2023 earnings report due to tight expense management, according to Wedbush analyst Seth Basham. However, sales pressures and macro headwinds may lead to reduced FY23 revenue growth guidance.
The news directly pertains to Williams-Sonoma, Inc. (WSM) and its upcoming Q2 2023 earnings report. The analyst's prediction of a potential earnings beat due to tight expense management could positively impact the company's stock in the short term. However, the expected continuation of sales pressures and the potential reduction in FY23 revenue growth guidance could negatively impact the stock.
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