Ethan Allen price target raised to $40 from $30 at Argus

Argus raised the firm’s price target on Ethan Allen to $40 from $30 and keeps a Buy rating on the shares. The company’s FY23 results benefited from investments in digital marketing and new product lines targeting younger customers, the analyst tells investors in a research note. Ethan Allen has recently improved margins by consolidating operations and investing in virtual-reality software that has enabled it to grow revenue with fewer sales associates, the firm added.