UPDATE: Wedbush Raises PT on Williams-Sonoma on Housing Recovery

In a report published on Monday, Wedbush analyst Joan Storms raised the price target on Williams-Sonoma (NYSE: WSM) from $47 to $50 and maintained a Neutral rating.

In the report, Wedbush noted, "We continue to believe that Williams-Sonoma, one of the best-positioned retailers in home furnishings, will benefit from the housing recovery and we remain positive on its multi-distribution channel model."

Williams-Sonoma closed Friday at $54.96 and at the time of publication it traded up 0.59 percent.