Williams-Sonoma (WSM) is continuing to make market share gains in a difficult macro environment, RBC Capital Markets analysts said in a Thursday note.

Analysts said that the company's management has established a track record of managing margins better than most, making it likely for it to outperform peers.

RBC said that while the company is facing higher ocean freight and domestic transportation costs, it has the ability to offset these expenses due to its size and scale.

Analysts said the company expects the impact from tariffs to peak in Q2.

Analysts retained an outperform rating on the stock and raised its price target to $192 from $191.

Price: 192.58, Change: +0.64, Percent Change: +0.33