RH price target lowered to $260 from $335 at Wedbush

Wedbush lowered the firm’s price target on RH to $260 from $335 and keeps a Neutral rating on the shares. The firm remains on the sidelines into RH’s Q3 earnings report, which is likely to be in early December, the analyst tells investors in a research note. Census Bureau category sales data, negative read-throughs from competitors, and negative third-party data suggest modest downside risk to consensus’ -13% Q3 sales forecast, the firm says.