Arhaus price target raised to $13 from $12 at Baird

Baird analyst Peter Benedict raised the firm’s price target on Arhaus to $13 from $12 and keeps an Outperform rating on the shares. The analyst said he is encouraged by the resiliency of its demand trends in the face of macro pressures and a more promotional sector backdrop. While he acknowledges prospects for a potential cyclical downturn later this year, he still sees a compelling long-term unit growth and business optimization opportunity.