Home goods retailer RH jumps as brokerages hike PT on signs of stronger 2025

RH

13/09/2024 16:42

(Updates)
    ** Home furnishing retailer RH's shares  RH.N  surge as much
as 22% to more than five-month high of $312.60
        ** At least seven brokerages hike PT on stock after
better-than-expected Q2 rev. of $829.7 mln
  
    ** RH expects demand trends to accelerate throughout fiscal
2024 and into 2025
    ** Citi raises RH's PT to $355 from $340, retains "buy"
rating
        ** Co still faces bumpy road, but this feels like the
"all clear" moment that RH's execution is improving, brand has
renewed energy to sustain building demand growth over
near-to-medium term, and margins are inflecting - Citi
    ** TD Cowen raises PT to $350 from $325; says it is
encouraged by green shoots at RH as question of recovery feels
more of a "when" and not "if"
    ** Morgan Stanley hikes PT to $310 from $300; BofA raises PT
to $359 from $310
    ** Peer Wayfair  W.N  also up as much as 10% at $49.39
    ** Eight of 21 brokerages rate RH stock "buy" or higher, 12
"hold" and one "sell"; with a median PT of $302
    ** Up to Thursday's close, RH down 12% and W down 27.4% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com))