RH price target raised to $435 from $310 at Morgan Stanley

Morgan Stanley raised the firm’s price target on RH (RH) to $435 from $310 and keeps an Equal Weight rating on the shares. Accelerating demand and revenue growth in “a tepid industry backdrop indicate momentum is strong and can be sustained,” but a full valuation and tail risks “balance out” the risk/reward, the analyst contends in a post-earnings note.