Analysts are Downgrading These 5 Stocks

4. Williams-Sonoma, Inc. (NYSE:WSM)

Number of Hedge Fund Holders: 40

Shares of Williams-Sonoma, Inc. (NYSE:WSM) slid nearly five percent in mid-day trading Monday after Morgan Stanley turned bearish on the consumer retail company, citing an expected pressure on profitability.

The research firm downgraded Williams-Sonoma, Inc. (NYSE:WSM) from “Equal-Weight” to “Underweight.” Analyst Simeon Gutman pointed towards normalizing sales volumes and dropping discretionary spending. He reduced his price target for WSM stock from $150 per share to $100 per share.

The downgrade came a couple of weeks after Williams-Sonoma, Inc. (NYSE:WSM) posted mixed results for its fiscal third quarter. Back then, the company said it would not reaffirm or update its financial outlook through 2024 due to macro uncertainty.

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