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Benzinga
Benzinga
Business
Shivani Kumaresan

Telsey Advisory Cuts Price Target On This Home Furnishing Company - Read Why

RH Luxury Telsey Advisory Group Housing Market Interest Rates Stock Market United States
  • Telsey Advisory Group analyst has lowered the price target of RH (NYSE:RH) to $285 from $375, implying a 33% upside. The analyst maintained an Outperform rating.
  • The company announced a revised outlook for 2022, noting that demand trends have fallen due to macro headwinds such as rising interest rates and declining luxury home sales.
  • The analyst noted the outlook is disappointing, and the stock is likely to trade sideways in the near term with the housing market cooling off and the stock market under pressure.
  • However, the analyst believes that RH remains a strong brand and is transforming into an international luxury lifestyle player from a U.S. home furnishing retailer.
  • Price Action: RH shares are trading lower by 10.18% at $213.07 on the last check Thursday.
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