RH price target raised to $450 from $320 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on RH (RH) to $450 from $320 and keeps a Hold rating on the shares after its Q3 results and raised growth outlook. The company’s recent momentum further accelerated in Q3, including significant sequential improvements in demand and revenue growth, robust operating margin expansion, and better-than-expected Q4 guidance, the analyst tells investors in a research note. RH is once again “harvesting the fruits of its heavy investments” over the past few years, including in the transformation of its merchandise assortment, though with the stock up 50% year-to-date, a neutral stance is appropriate, Loop added.