Wells Fargo raised the firm’s price target on RH (RH) to $425 from $350 and keeps an Overweight rating on the shares. Shares are well owned, adding near-term risk, but the firm likes the Q3 setup into anticipated double digit percentage demand, high single digit percentage sales growth and sharp EBIT inflection. As share gains return, Wells sees the makings of a top 2025 idea via sales/margin catalysts and upward revision potential.
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