Fly News Breaks for March 15, 2018
WSM
Mar 15, 2018 | 07:16 EDT
BTIG analyst Alan Rifkin raised his price target on Williams-Sonoma to $47 after the company's better than expected Q4 earnings, driven by lower tax rates and upside in comps. Rifkin adds however that the Pottery Barn brand is not "out of the woods", tracking flat on 2-year basis and down 2% on 3-year basis, while the 2-year comps at West Elm decelerated to 18.8% from 23.5% in Q3. The analyst keeps his Sell rating on Williams-Sonoma longer term, citing the company's expectations of EBIT margin guidance implying a 4th straight year of lower profitability.
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