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Morgan Stanley Upgrades Williams-Sonoma to “Overweight” (WSM)

By
December 3rd, 2012

Morgan Stanley Upgrades Williams-Sonoma to "Overweight" (WSM)

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Home product retailer Williams-Sonoma, Inc. (WSM) was upgraded at Morgan Stanley on Monday.

The analysts upgraded WSM from “Equal-weight” to “Overweight” with a price target of $54. That valuation is a +19% increase from Friday’s closing price of $45.26.

Morgan Stanley believes at Williams-Sonoma’s business is improving and forecasts double-digit annual growth over the next few years.

Williams-Sonoma shares were flat in premarket trading on Monday. The stock is up +19.11% year-to-date.

The Bottom Line
Shares of Williams-Sonoma (WSM) have a 1.94% dividend yield, based on Friday’s closing stock price of $45.26. The stock has technical support in the $41-$44 price area. The stock is trading near its all-time highs of $48 a share.

Williams-Sonoma, Inc. (WSM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.