Arhaus price target lowered to $15 from $18 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Arhaus to $15 from $18 and keeps an Outperform rating on the shares. While the firm is disappointed by the negative inflection in the business and the cut to FY24 guidance, Telsey believes Arhaus is “well positioned” for the next several years once the housing market improves.