WSM - Is Williams-Sonoma an $80 Stock?
Analyst firm Wedbush Morgan upgraded Williams-Sonoma (NYSE: WSM) from a neutral rating to outperform on Monday, citing a long-lasting change in the home goods market that aligns with this company's product collections.
Seth Basham lifted his target price on the stock from $46 to $80 per share, 20% above Friday's closing price.
The firm noted that consumers are directing their discretionary spending budgets away from travel, apparel, and entertainment during the stay-at-home period of this coronavirus era. Instead, they're spending money on improving their homes with good-looking and functional furniture and home goods.