BofA analyst Curtis Nagle raised the firm’s price target on RH to a “Street high” $425 from $360 and keeps a Buy rating on the shares, citing improved industry trends from Q1 to Q2, strong web traffic data and “a generally more optimistic view” on growth in 2024. For RH, BofA cites a continuation of outsized share buybacks in fiscal Q2, improving web traffic trends through June and confidence that RH will return to double digit earnings growth next year.
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