BofA raised the firm’s price target on RH to $360 from $315 and keeps a Buy rating on the shares. RH implied in a 13D filing that the company repurchased just under 1.2M shares, or about $350M of stock, from the end of Q1 through June 28, notes the firm, which also raised its Q2 revenue estimate on improving web traffic trends and improving spending on furnishings numbers in May, per the firm’s aggregated card data.
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