Arhaus price target raised to $15 from $13 at Telsey Advisory

Telsey Advisory analyst Cristina Fernandez raised the firm’s price target on Arhaus to $15 from $13 and keeps an Outperform rating on the shares. The firm expects the company’s upcoming Q4 results to be roughly in line with its estimates and see the company taking a conservative approach to 2024, the analyst tells investors. Initial 2024 guidance may disappoint, but Telsey remains optimistic about the company’s medium-term prospect given its strong resonance with the consumer.