Arhaus price target lowered to $14 from $21 at Craig-Hallum

Craig-Hallum analyst Jeremy Hamblin lowered the firm’s price target on Arhaus to $14 from $21 and keeps a Buy rating on the shares. Arhaus provided a disappointing Q2 update that saw FY24 guidance meaningfully lowered as order trends slowed in recent months, the analyst tells investors in a research note. The firm views guidance cuts as aggressive which positions the company for upside in 2H24 at current run rates.