Baird raised the firm’s price target on RH (RH) to $400 from $300 and keeps a Neutral rating on the shares. The firm said while adj-EBIT missed by roughly 3% due to softer gross margin, demand continues to accelerate as customers respond to the company’s prolific product transformation.
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Read More on RH:
- RH Achieves Strong Q3 Growth Amid Product Transformation
- Closing Bell Movers: RH soars 20% on earnings, guidance raise
- RH jumps 20% to $458 after Q3 results, FY24 revenue guidance raise
- RH to begin introduction of Waterworks brand across its platform this week
- RH raises FY24 revenue growth view to 6.8%-7.2% from 5%-7%
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