09:26 AM EDT, 05/17/2024 (MT Newswires) -- Williams-Sonoma's ( WSM ) product and marketing investments for its key brands should result in fiscal Q1 market share gains, Wedbush said in a note Friday.

Due to higher discretionary goods demand, the company is expected to retain its full-year guidance, analysts led by Seth Basham said.

"We continue to recommend WSM given improving sales, margin momentum and our view of valuation: a higher multiple is warranted as the company drives sustainable margin improvement while the long-term top-line sales outlook (mid-to-high single digit growth) appears achievable, in our view," the analysts said.

The analysts expect Williams-Sonoma ( WSM ) to report fiscal Q1 earnings of $2.84 per share and revenue of $1.69 billion on Wednesday.

Wedbush raised Williams-Sonoma's ( WSM ) price target to $350 from $330 and maintained an outperform rating on the stock.

Price: 314.07, Change: +1.01, Percent Change: +0.32