Wedbush upgraded RH (RH) to Outperform from Neutral with a price target of $430, up from $310, after meeting with management. The firm came away from the meetings more confident in the “building momentum” in the company’s “extraordinary product transition.” Accelerating store openings should drive top- and bottom-line upside for at least the next two years, the analyst tells investors in a research note. Wedbush says RH has been introducing new products that are “trend-right, with much lower price points and good quality.” This creates a “compelling value proposition for its core aspirational luxury customer that had ventured elsewhere,” the firm contends.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on RH:
- RH upgraded to Outperform from Neutral at Wedbush
- Craig-Hallum downgrades Arhaus on competition, demand concerns
- Arhaus promotional email ‘concerning,’ says Jefferies
- Jefferies retail/consumer analysts hold an analyst/industry conference call
- Unusually active option classes on open September 16th
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
