RH price target lowered to $340 from $350 at UBS

UBS lowered the firm’s price target on RH to $340 from $350 and keeps a Neutral rating on the shares. While the company exceeded the sell-side consensus for Q2, UBS thinks the market was probably expecting a bit more, the analyst tells investors in a research note. The firm believes forward estimates will move lower following the print, which is likely to pressure the stock in the near-term.