RH price target lowered to $440 from $460 at Citi

Citi analyst Steven Zaccone lowered the firm’s price target on RH to $440 from $460 and keeps a Buy rating on the shares. The company’s Q2 earnings print that might be dubbed as “not good enough” given the stock’s outperformance year-to-date, the analyst tells investors in a research note. That said, RH’s fundamentals are little changed after the report, says the firm. RH’s house view is the company is toward the end of the worst of it when it comes to demand weakness, and Citi concurs with that thesis, the analyst points out. The firm says RH remains one of its “play offense” picks in hardlines retail.