UPDATE: Wedbush Lowers PT from $46 to $43 on Williams-Sonoma at the 2Q

Wedbush has published a research report on Williams-Sonoma WSM reducing the price target. In the report, Wedbush wrote, " We expect comps will be 4%+ and a couple pennies upside to EPS, driven by well-executed promotions, inventory management and a strong merchandise assortment. Given recent market volatility, which very well has the potential to lead to a pullback in spending for its core upper-income demographic, we do not expect management to raise guidance." Wedbush rated Williams-Sonoma an Outperform with a price target lowered from $46.00 to $43.00. Williams-Sonoma closed Friday at $28.69.