Arhaus price target lowered to $16 from $19.50 at Stifel

Stifel analyst W. Andrew Carter lowered the firm’s price target on Arhaus to $16 from $19.50 and keeps a Buy rating on the shares. The underperformance following the Q2 results builds upon the weakness leading into the quarter driven by concerns of slowing demand, the analyst tells investors in a research note. Though shares may trade sideways as confidence waxes/wanes in demand prospects, Stifel believes enthusiasm will build for the achievability of the outlook giving way to resumed appreciation for the enamoring long-term growth profile.