These Analysts Raise Their Forecasts On RH After Q4 Results
Portfolio Pulse from Avi Kapoor
RH (NYSE:RH) reported Q4 results below expectations but provided an optimistic forecast for 2024, expecting demand and revenue growth of 12%-14% and 8%-10% respectively. Despite the miss, RH shares surged 9.5% in pre-market trading. Telsey Advisory Group and Wedbush raised their price targets for RH, maintaining Market Perform and Neutral ratings respectively.
March 28, 2024 | 11:34 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
RH reported lower-than-expected Q4 earnings but issued a strong forecast for 2024, leading to a 9.5% pre-market stock price increase. Analysts from Telsey Advisory Group and Wedbush raised their price targets.
Despite RH's Q4 earnings miss, the optimistic forecast for 2024, including significant demand and revenue growth, has positively impacted investor sentiment, leading to a pre-market stock price surge. The adjustments in price targets by Telsey Advisory Group and Wedbush further validate the positive outlook, indicating a strong short-term bullish sentiment for RH.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100