Arhaus price target lowered to $12 from $13 at Jefferies

Jefferies analyst Jonathan Matuszewski lowered the firm’s price target on Arhaus to $12 from $13 and keeps a Hold rating on the shares. The company reported its first double-digit decline in monthly web traffic on record, with September visit decline of 29% also reflecting a fifth consecutive month of deceleration, the analyst tells investors in a research note. Last month’s reversal in paid search penetration is also being driven by elevated discounting as a preferred tool for spurring customer traffic, the firm added.