RH price target lowered to $220 from $510 at TD Cowen

TD Cowen lowered the firm’s price target on RH (RH) to $220 from $510 and keeps a Buy rating on the shares. The company’s “softer” Q4 results versus expectations, more conservative fiscal 2025 sales guidance, and questions around liquidity in the context of “significantly rising tariffs were a recipe for a tough stock reaction,” the analyst tells investors in a research note. The firm says that while RH’s revenue remains industry-leading, they are slowing with concerns around future growth given declining wealth effect, especially with elevated inventory. The stock “bears now dominate the narrative,” contends TD.