Williams-Sonoma upgraded at BofA/Merrill As previously reported, BofA/Merrill upgraded Williams-Sonoma to Buy from Neutral. The firm upgraded shares citing improved visibility and execution and said it is one of the best beat and raise stories in Hardlines. The analyst believes brand extensions and numerous merchandise tie-ups will lead to continued share gains and pricing power. Price target raised to $82 from $70.
Piper cuts Williams-Sonoma on promotions, port situation Piper Jaffray downgraded Williams-Sonoma to Neutral from Overweight saying promotional activity has picked up in the current quarter while furniture delivery delays may arise from the West Coast ports situation. Piper keeps an $84 price target on the home products retailer. Shares closed yesterday down 41c to $81.70.