RH price target lowered to $250 from $300 at Wells Fargo

Wells Fargo analyst Zachary Fadem lowered the firm’s price target on RH (RH) to $250 from $300 and keeps an Overweight rating on the shares. The firm says RH sentiment is shaky at best, and that it views free cash flow and 5-times leverage the key needle movers today. “Less bad” setups are squeezing and Wells sees Q1 top-line intact, but gross margin risk, mixed quarter-to-date checks, and lingering tariff concerns complicate the near-term setup.