RH Shares Leap On Heels Of Q2 Revenue Report, But Analysts Say Management Is ‘Too Optimistic’
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Shares of RH (NYSE:RH) climbed 23.6% at last check Friday, after the company reported upbeat second-quarter results.
The company, also known as Restoration Hardware, reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Bank of America analyst Curtis Nagle reiterated a Buy rating, while lifting the price target from $310 to $359.
- Wedbush analyst Seth Basham maintained a Neutral rating, while raising the price target from $250 to $310.
- Telsey Advisory Group analyst Cristina Fernández reaffirmed a Market Perform rating and price target of $290.
- KeyBanc Capital Markets analyst Bradley Thomas maintained a Sector Weight rating on the stock.
Check out other analyst stock ratings.
BofA Securities: RH reported second-quarter sales of $830 million, representing 3.6% year-on-year growth and coming in higher than Street expectations of $824 million, Nagle said. GAAP earnings of $1.45 per share missed consensus of $1.56 per share.
Demand growth accelerated throughout the quarter, indicating “significant” market share gains in North America, the analyst stated. Management lowered the full-year …
Full story available on Benzinga.com
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