RH price target lowered to $345 from $415 at BofA

BofA lowered the firm’s price target on RH (RH) to $345 from $415 and keeps a Buy rating on the shares. Furnishing spending improved from Q2 to Q3, but BofA expects mixed earnings results from the internet furnishings retailers, the analyst tells investors in a group preview note. While Q4 guidance “may underwhelm,” the firm believes this is largely priced in given that shares of Wayfair, Etsy (ETSY), Overstock.com (OSTK) and RH are down from 8% to 37% since September 1, the analyst added.