How Williams-Sonoma's Diverse Product Range Could Offset Larger Home Furnishings Dip, Analyst Says
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Cristina Fernández reiterated an Outperform rating on Williams-Sonoma, Inc. (NYSE:WSM), raising the price target to $146 from $135. The analyst expects a further softening in demand for home furnishings during Williams-Sonoma's 2Q23, with a predicted decline in comparable brand sales. However, the company's diverse product range could offset this dip. The analyst also expects the gross margin in 2Q23 to be significantly pressured by high supply chain costs.
August 18, 2023 | 7:01 pm
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Williams-Sonoma's diverse product range could offset the predicted dip in demand for home furnishings. The company's stock has been rated as Outperform by Telsey Advisory Group analyst, with a raised price target.
The analyst's positive outlook on Williams-Sonoma, despite the predicted dip in demand for home furnishings, is likely to instill confidence in investors. This, coupled with the raised price target, could lead to an increase in the company's stock price in the short term.
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