By Christiana Sciaudone
Investing.com -- Williams-Sonoma (NYSE:WSM) rose 1% after getting an upgrade on strong results and continued earnings growth.
Bank of America (NYSE:BAC) upped the home goods retailer to neutral from underperform, and bumped the price target to $180 from $100, StreetInsider reported.
Shares hit an all-time high in April, rising more than 300% since the start of the pandemic with a resurgence in cooking and home nesting, as well as a frenzy in new home buying. Most analysts are seeing less upside, and the stock has six buys versus 11 holds and three sells, according to data compiled by Investing.com.
Last week, Williams-Sonoma reported earnings per share of $2.93, better than the expected $1.84, on sales of $1.75 billion, also an improvement over the estimated $1.52 billion.
BofA Securities analyst Curtis Nagle said earnings growth should continue longer than previously expensive and the company has competitive advantages, including scale and a superior supply chain.