Stifel initiated coverage of Arhaus with a Buy rating and $19.50 price target. The company’s premium focus and scale lend to an outsized investment behind its supply chain and capabilities, the analyst tells investors in a research note. Arhaus is also boasting an above average retail operating margin profile, with the firm’s estimates suggesting a 65% product margin, while its physical footprint is seen as a “key point of differentiation” in capturing home furnishings category growth, and its footprint is “difficult to replicate”, the firm added.
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