RH price target raised to $485 from $330 at Telsey Advisory

Telsey Advisory raised the firm’s price target on RH (RH) to $485 from $330 and keeps a Market Perform rating on the shares. The company’s Q3 revenues were in line with expectations, but fell slightly short on operating margin and EPS, the analyst tells investors. On more positive news, the level of demand for RH was up 13% in Q3 and is so far up 18% in Q4, the firm adds. Looking to FY25, Telsey expects demand outperformance to continue.