Citigroup Reiterates Hold For Williams-Sonoma

Williams-Sonoma, Inc. WSM reported 2Q2011 EPS of $0.31 vs. Citigroup's estimate of $0.22 based on solid top-line growth of +15.4% while 2Q comps were robust at 13.6% (Citigroup estimated 12.0%). Citigroup reports that in light of these positive results it is increasing FY2011-2013 EPS estimates to $1.71, $1.89, and $2.10, respectively, up from $1.49, $1.80, and $2.09. Price target has been lowered to $32 (from $33). Citigroup maintains its Hold rating for Williams-Sonoma, Inc., which closed yesterday at $28.89.