Brokerages raise PT on Arhaus on strong forecast and supply chain advantages

Arhaus

31/03/2022 19:31

** BofA Global Research raises PT on home furnishings
retailer  ARHS.O  by a $1 to $15, maintains "buy" rating
    ** Brokerage says Arhaus delivered better first-quarter and
full-year 2022 outlook than peers RH  RH.N  and Williams-Sonoma
 WSM.N  because of their underlying supply chain advantages
    ** BofA says the advantages are due to the company sourcing
more than half of its goods in the United States, comparatively
low exposure to Chinese manufacturing and long-term built vendor
partnerships
    ** Telsey Advisory Group raises PT to $12 from $11 on
results beat
    ** TAG adds that despite near-term inflationary headwinds to
the sector, ARHS has unique growth drivers such as store
openings for 2022 and expansion of merchandise categories
    ** ARHS sees Q1 and FY22 revenue above market expectations
 urn:newsml:reuters.com:*:nL3N2VX7M0
    ** 8 of 9 analysts rate the stock "buy" or higher, 1 rates
it "hold"; median PT $14.50, reflecting upside of 66.7% to last
close
    ** As of last close, stock had fallen 34.7% YTD

 (Reporting by Vansh Agarwal)
 ((Vansh.Agarwal@thomsonreuters.com;))