Telsey Advisory raised the firm’s price target on RH to $335 from $285 and keeps a Market Perform rating on the shares. The company’s Q4 revenues and EPS missed expectations by a wide margin, the analyst tells investors. This performance, however, was offset by comments about demand trends, which is expected to inflect positively in Q1, Telsey adds. While firm is encouraged by RH’s demand turning positive and the return to growth in 2024, this enthusiasm is halted by ongoing investments in international, the firm notes.
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