RH price target lowered to $227 from $298 at Jefferies

Jefferies lowered the firm’s price target on RH to $227 from $298 and keeps a Hold rating on the shares. Following the company’s Q4 report and guidance, the firm calls FY23 a "major reset" and does not see a promising buying opportunity at current trading levels given the company’s guidance that "challenging business conditions" are anticipated for at least the next several quarters.