RH's Robust Share Buybacks Surpass Expectations, Analyst Raises 2023 EPS Estimate
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Joseph Feldman has reiterated a Market Perform rating on RH (NYSE:RH) and raised the price target from $225 to $365. The revised EPS estimates and 12-month price target reflect RH's share repurchases since its 1Q23 report on May 25. The analyst sees RH's plans to open its first international store in England in June and accelerate new product introductions in 2H23 as positive developments. However, the housing market remains challenged and consumers continue to gravitate to spending on services and travel.
August 04, 2023 | 10:05 am
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RH's share repurchases have led to a revised EPS estimate and a raised price target. The company's plans for international expansion and new product introductions are seen as positive. However, challenges in the housing market and consumer spending trends could pose risks.
The analyst's revised EPS estimate and raised price target reflect RH's share repurchases, indicating a positive outlook for the company. The plans for international expansion and new product introductions are also seen as positive developments. However, the analyst notes challenges in the housing market and changing consumer spending trends, which could pose risks to RH.
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