RH price target lowered to $275 from $300 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on RH to $275 from $300 and keeps an Equal Weight rating on the shares post the Q4 results and "challenging" 2023 outlook. Long-term bulls "shouldn’t be fazed" and the 2023 outlook "leans conservative," said the firm, but it adds that the path to greater than $5B in sales and over 20% structural EBIT margin is "likely pushed out several years."