- Telsey Advisory Group analyst lowered the price target on RH (NYSE:RH) to $400 (35% upside) from $510 and maintained an Outperform rating on the shares.
- The analyst said there was a broader deceleration in demand for home furnishings but has been more evident at low and mid-tier priced retailers.
- The analyst believes RH has had greater inventory constraints with more of its products sourced from China and Vietnam than peers, which has delayed product launches like RH Contemporary.
- The analyst opined that the company could face choppy days in the near term with headwinds like supply chain constraints and delayed product launches.
- BofA analyst lowered the price target of RH to $550 (86% upside) from $650 and maintained a Buy rating on the shares.
- Price Action: RH shares are trading higher by 1.36% at $294.99 on the last check Tuesday.
