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Fly News Breaks for January 28, 2020
Jan 28, 2020 | 07:31 EDT
Oppenheimer analyst Brian Nagel upgraded Williams-Sonoma to Outperform from Perform with a $90 price target. Management has undertaken initiatives to improve core processes over the past several years and the "worst now appears behind" the company as operating margins seem to have at least stabilized, Nagel tells investors. The "still-depressed" valuation of the stock underappreciates the company's near- and longer-term EPS power, contends the analyst, who also thinks strengthening in the domestic housing market implies an even better demand backdrop.
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