As previously reported, BofA analyst Robert Ohmes downgraded Arhaus (ARHS) to Neutral from Buy with a price target of $11, down from $15, to reflect a lower Q4 and 2024 outlook on soft demand trends after the company reported Q3 EPS, sales and adjusted EBITDA below the firm’s forecasts. Despite a more positive long-term outlook supported by the company’s growing brand awareness, new product introductions, and the ability to double its full-sized gallery footprint, the firm thinks uncertainty around the return of consumer demand in home furnishings, and an uncertain customer response to a shift to more volume promos, could limit share appreciation in the near-term.
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Read More on ARHS:
- Arhaus downgraded to Neutral from Buy at BofA
- Arhaus reports Q3 EPS 34c, consensus 8c
- Arhaus lowers 2024 revenue view to $1.23B-$1.25B from $1.25B-$1.29B
- Arhaus sees Q4 revenue $306M-$326M, consensus $326.88M
- Arhaus Reports Q3 2024 Revenue Amid Market Challenges
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