Goldman Sachs Ups PT On WSM To $45

Goldman Sachs has raised its price target on Williams-Sonoma WSM from $42 to $45 following its 1Q beat. Says Goldman Sachs, in its report, “…the firm remains well-positioned with a potent stable of brands and several innovative initiatives that should continue to drive share gains, focused primarily on the interplay of retail and direct, including “clienteling” and the Williams-Sonoma Reserve program. Moreover, sourcing and logistics initiatives are helping the company resist pressures to costs from rising material and energy prices.” Goldman Sachs maintains a Neutral rating on the stock. WSM closed at $41.20 yesterday.