Williams-Sonoma, Inc. (WSM) Upgraded to Outperform at Wedbush

Williams-Sonoma, Inc. (WSM) has been upgraded today by the securities research analysts at investment firm Wedbush which raised Williams-Sonoma from a”neutral” rating to “outperform.”  Wedbush also increased their performance outlook for WSM and adjusted its price target from $44 to $46 dollars.  Wedbush noted that recent WSM share losses are ‘overdone’ and that investor concern has largely been overblown and that shares are trading at a discounted price.

WSM is gradually rising from the low of $34.40 which was the lowest price shares have down-trended within these two most recent months.  Shares have managed to rise above the 50-day simple moving average once again, however, it is going to take a considerable amount of bullish momentum to loft shares above a new high from where shares are currently being traded at.  WSM breaking above the $40 dollar price level would be a good start, as the $40 mark was resistance this past July 14th where shares fell one cent short of piercing it.

Williams-Sonoma is slated to release their next earnings report on August 18th, 2011, and the current consensus EPS estimate is expected to be 36 cents.  Their last earnings report was released on May 19th, 2011, and announced EPS of 30 cents with revenue totaling $771 million which was up 7.4% year to year.  WSM is currently trading above its 50 & 200-day moving averages and 2011 is an up down] year for the company.

Williams-Sonoma, Inc. is a specialty retailer of products for the home.  The company has market capitalization of $4,073,262,800 and 104,981,000 shares outstanding.  WSM has a 52-week high of $45.48 with the low being $24.57 dollars.

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