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Last week, RH (NYSE:RH) reported an earnings miss for the third quarter, but raised its guidance.
Despite overall furniture demand remaining soft, the company witnessed better-than-expected demand trends in the third quarter and so far in the fourth quarter, which suggests market share gains, according to Telsey Advisory Group.
Analyst Cristina Fernández upgraded the rating for RH from Market Perform to Outperform, while raising the price target from $485 to $500.
The RH Thesis: While the company had reported a 13% increase in total demand in the …
Full story available on Benzinga.com
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