Telsey Advisory Group upgrades RH to 'outperform' on strong demand trends

RH

19/12/2024 19:16

** Telsey Advisory Group raises luxury furniture maker RH's
 RH.N  rating to "outperform" from "market perform", lifts PT to
$500 from $485
    ** Strong demand trends in Q3 and Q4 show RH is gaining
market share even as furniture demand remains soft across the
industry - Brokerage
    ** Introduction of new collections across interiors, outdoor
and modern business at accessible price points has allowed
consumers to return to shopping at RH, TAG analyst Cristina
Fernández says
    ** Adds RH's plans to cut all imports from China by Q2 2025
show it has taken more steps to protect itself against potential
China tariffs than other companies
    ** 2025 should also mark a turning point for RH in Europe as
the company opens its first store in the major cities of London
and Paris - brokerage
    ** Nine of 22 brokerages rate the stock "buy" or higher, 11
"hold" and two "sell" or lower; their median PT is $467.50
    ** Stock last down 1.7% at $389.80; YTD, RH up ~36% as of
last close

 (Reporting by Aamir Sohail in Bengaluru)
 ((Aamir.Sohail@thomsonreuters.com;))