UPDATE: ISI Upgrades Williams-Sonoma to Buy

ISI is out with its report today on Williams-Sonoma (NYSE: WSM), upgrading WSM to Buy from Hold.

In its report, ISI writes, "We are upgrading WSM from a Hold to a Buy as we believe the recent market disruption has created an attractive entry point. Our primary concern on the shares was the premium valuation, but with the YTD 17% decline in the share price vs its retail peers down 8.5%, we believe the risk-reward is compelling and we are moving our rating to a buy."

At the time of posting, shares of WSM were trading at $29.55, down 0.27% from Monday's close.