Argus analyst Chris Graja raised his price target on Williams-Sonoma to $67 and kept his Buy rating, citing the company's position of "producing unique merchandise" while offering an improving supply chain and a good balance of physical stores and e-commerce. The analyst notes that U.S.- China trade friction could weigh on the stock in the near term, but its current valuation of 11-times trailing EBIT is already below the 5-year median of 12-times. In the event of a trade war, the analyst also contends that Williams-Sonoma could "negotiate better pricing with its Chinese suppliers, and over the long term diversify its sourcing to other countries".