Arhaus price target lowered to $12 from $15 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Arhaus (ARHS) to $12 from $15 and keeps an Outperform rating on the shares. The firm believes Arhaus’ demand remained subdued in Q3, which is likely due to difficult year-over-year comparisons, the analyst tells investors. While the near-term is choppy, the company’s revenues are 2x 2019 levels and the company remains well positioned once the housing market improves, the firm adds.