BUZZ-Williams-Sonoma rises; BofA initiates with 'buy'

Williams-Sonoma, Inc.

Williams-Sonoma, Inc.

WSM

0.00

** Shares of furniture retailer Williams-Sonoma WSM.N up ~2% at $222.50 premarket

** BofA initiates coverage with "buy" rating

** WSM is in a demographic sweet spot with its "affordable luxury" positioning that targets core customer with ~$150K household income - brokerage

** Notes spread between higher- and lower-income spending on furniture has widened in recent quarters

** Nine of 22 brokerages rate the stock "buy" or higher, 13 "hold"; their median PT is $207 - data compiled by LSEG

** As of last close, stock up 22% YTD


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