BofA analyst Curtis Nagle raised the firm’s price target on Arhaus (ARHS) to $16.50 from $12 and keeps a Buy rating on the shares after the company reported higher-than-expected revenue for FY22. The company has now raised FY22 revenue guidance by 6% at the midpoint to 53.8% year-over-year, noted Nagle, who said he is "encouraged" by the company’s execution as it keeps capturing white space in a fragmented industry. Arhaus’ stronger Q4 results and RH‘s (RH) recent decision to accelerate buybacks may suggest trends in premium furnishings may be improving, Nagle added.
Published first on TheFly
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