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Fly News Breaks for August 29, 2019
WSM
Aug 29, 2019 | 06:53 EDT
RBC Capital analyst Scot Ciccarelli raised his price target on Williams-Sonoma to $67 after its Q2 earnings beat, "very strong" comps growth of 6.5%, and guidance raise. The analyst is keeping his Sector Perform rating however to reflect the "material" gross margin pressure around shipping costs and tariffs. Ciccarelli notes that valuation on Williams-Sonoma remains "modest", but believes that pricing competition and the pressure to offer free shipping will weigh on the stock over time.
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