RH price target raised to $383 from $320 at Barclays

Barclays analyst Seth Sigman raised the firm’s price target on RH (RH) to $383 from $320 and keeps an Equal Weight rating on the shares after its Q3 results. The firm was “encouraged” by the inflection in RH’s business, reflecting a combination of new product, pricing, and in-stock levels, and while comparisons clearly helped as well, results support this being one of the better idiosyncratic stories into next year, the analyst tells investors in a research note. RH brand momentum was strong, with the other 25% of its business also well positioned to follow at some point, the firm adds. RH is one of the best ways to play home furnishings, though the stock’s quick move higher recently keeps the firm “patient” on its rating, Barclays states.